Panic buying, face masks and other irrational ways we have behaved in this crisis—why we do it and what we can do about it.

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Photo by @markusspiske on Unsplash.

Panic buying was a widespread phenomenon observed of buyers at the start of the COVID-19 crisis. With food supplies and household products being in particular demand (toilet paper sales skyrocketed by a shocking 700% between February and March!), many supermarkets were forced to impose limits on the number of items shoppers can buy.

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A selection of photos of shoppers stockpiling. Images by @abewitchedangel on Twitter (top left); @tinik972 on Twitter (top right); Forbes (bottom left); and Telegraph (bottom right).

Why do we panic buy?

Some people may panic buy as a form of forward planning. However, more often than not it is a way we cope with our fears and anxieties during times of uncertainty. When things appear out of our control, taking bold, decisive action may help us to re-exert control over a situation, even if these actions reduce our risk in one respect but are largely ineffective for solving the problems we face (e.g. …

Resilience and agility are crucial for navigating crises. Startups are best placed to adapt and innovate, but also most at risk.

Photo by @anniespratt hosted on Unsplash.
Photo by @anniespratt hosted on Unsplash.
Photo by @anniespratt, hosted on Unsplash.

As lockdowns ease and early signs of an uptick in infection rates spark fears of a resurgence in the coronavirus, the current crisis continues to disrupt startups and the wider entrepreneurial ecosystem.

Startups have been among the hardest hit businesses

Startups and entrepreneurial ecosystems, valued at $2.8 trillion and growing at over 10% per year, are a vital part of our global economy. In addition to providing a significant source of employment, they are paving the way for a digital and more sustainable future. Yet, these businesses have been among the hardest hit by COVID-19. As sales orders have collapsed and production has ground to a halt, investors are retracting their funding, bringing R&D, marketing and other efforts to a standstill. …


Park Yeung

Hobbyist writer covering entrepreneurship, innovation, sustainability and COVID-19. Published by The Startup and other Medium publications.

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