Prevention Strategies of Panic Buying During Disaster

Panic buying is arguably an (ir)rational human behavior that is observed at times of emergencies. Although the phenomenon has been noted across the globe, very little evidence has been identified to prevent it. We aimed to identify, assess, and categorize the prevention strategies of panic buying during disasters. Sensible media reporting, psychological measures (online group counseling measures, promotion of kinship), (de)marketing (rationing, avoiding price hike), public health authority measures (assurance of the stock, raising awareness, subsidized goods sales, reduction of import duty, monitoring and punishment, psychosocial support, direct, clear, and sensible communication to the people), and supply chain management (assurance of the stock, sustainable supply, import from an alternative source, product substitution, resilient e-commerce, rapid replenishment) were the major identified domains of prevention for panic buying. This chapter identified and discussed importantly and perhaps preliminary strategies for the prevention of panic buying relating them to the different phases of disaster. Preparedness for controlling the panic among the population during future outbreaks should have an emphasis on these identified domains of preventive strategies.