People have pressed the panic button during the COVID-19 crisis lockdown situation. In this blog, we discuss as to why people should stay calm and not panic buy in grocery stores
Panic buying is not the solution
The COVID-19 has had a massive impact on the way Canadians and many across the world have started thinking. The biggest fear among people is that of missing out on essentials during the lockdown period amidst the coronavirus crisis situation. You may not a certain thing at that particular but you may feel the need to buy a particular thing as a backup option assuming the worst was yet to come.
Is it good to stock up and buy things that you don’t actually need? Are the supermarkets going to close at some point of time? Is it wise to press the panic button right now? The answer to this is NO. You do not have to panic buy just because it is a lockdown.
The supermarkets and all the stores selling essential goods are going to remain open and the government has reassured the Canadians that there is enough supply to cater to everyone’s needs.
Essential businesses and stores to remain open
The Canadian government has declared an emergency in the country but has also reassured the Canadians that the supermarkets, pharmacy stores and all other essential businesses will remain open throughout the lockdown period.
The government has realized the need to keep the supply chain going and has also stated that transportation from the United States to Canada shall remain open for transporting goods. What does this convey? Well, it once again reassures people that the supply for essential commodities and groceries will keep coming irrespective of the lockdown and the current situation isn’t going to see a shortage of essentials anytime soon.
Supermarkets facing stocking issues
While people have flocked the supermarkets to stock up, the supermarkets have started facing massive stocking up issues as people are buying multiple units of essential items like milk cartons, meat cuts, bread, egg packs, dry snacks, biscuit packs and so on. Not only that, the very essentials of cooking like salt, sugar, pepper, wheat, rice and pulses are also getting over within hours of stocking up.
This isn’t because the supermarket has less quantity of it but it is more because people are queuing up to buy essentials and they generally buy multiple units of it. As a result, the stock inside the supermarket is exhausted and it takes a quite a while for the supermarket to restock because of the logistical arrangements during the lockdown period.
This has led to a disappointment among the buyers who end up going to the supermarket after the peak morning timings. Well, pretty bad state of affairs considering the humongous size of the supermarkets, isn’t it? This is what fear can do.
Buy what you need, don’t overbuy
Overbuying is overkilling. In situations where people should look after other people as well, the panic buying has got a flavor of selfishness to it and it is creating disparity among households. While some are not getting the essentials to cook a regular meal, others have overstocked and are sitting pretty with extra stuff that they might not even need for at least a month or so.
The toilet paper saga has continued for almost a month now and that hasn’t seemed to ease off. Be it sanitizers or toilet papers or hand wash soaps or be it food items or basic grocery essentials, if people can manage to buy only what they need, the disparity issues could be solved and every Canadian would be able to sustain amidst this COVID-19 crisis.
Things to keep in mind during the COVID-19 crisis:
Though this COVID-19 situation has slowed down everything and has led to people fearing for the worst, one thing to be remembered is that the essential goods will not see a shortage of supply anytime sooner. If we manage to keep our heads about it and be calm about the situation, we will not panic and not overbuy. Remember, we have to co-exist and let other households also have essential goods for survival. It is not about being the first one to buy, it is about being there to buy for sustainability and being qualitative than being quantitative.
Check out some more COVID-19 related articles
At Chango, our goal is to empower you in knowing your resources in your daily routine life as well as during a crisis situation like the COVID-19 pandemic. We are constantly creating resources to help you with knowing what you could do during this financial crunch period. The government has announced the COVID-19 benefit package for workers and self-employed people and we have explained everything on the COVID-19 aid package and gone into the finer nuances of it on our website. We are here to help you conquer your financial woes!
We are in it together, we shall conquer this crisis together. Happy buying everyone, do not panic! Happy Finance!