Why is toilet paper running out in the face of the pandemic?

Why are many people trying to buy toilet paper in the face of the coronavirus pandemic?

The coronavirus pandemic (COVID-19) has already reached 159 countries, infecting more than 180,000 people. This pandemic has created a real economic and social crisis, and its consequences, although clearly devastating, are still unpredictable.

In this article, however, we will focus on explaining a curious social phenomenon that is occurring as a result of this crisis, which affects shopping and has to do with the "collective madness" that is taking hold in practically all countries. And that is that we are running out of toilet paper. It sounds like a bad joke, but it's not. Why is toilet paper running out?

We are going to give an answer to this social phenomenon and we will also discover its similarities with the phenomenon of the banking panic.

Why is toilet paper running out in the face of coronavirus fear?

Why is toilet paper running out these days of pandemic? The reality is, it's not that there is a shortage of toilet paper, it's that people are afraid to run out, for fear that others will hoard it.

As a result, many end up hoarding the paper (more than they need), which has the direct consequence that many others run out. And so, it is like a fish that bites its own tail; "I accumulate, but so do others, because they are afraid that I will accumulate".

The phenomenon actually works like the one that occurs in banks (i.e., in the banking panic of losing our money, which we will discuss in more detail later). Thus, the "toilet paper depletion phenomenon" affects us all, but it is a fact that not all of us run out of it, since many people hoard it, and therein lies the error..

This also affects people who are not frightened by the coronavirus pandemic, but who are nevertheless worried about other people being frightened or worried, which causes us to hoard toilet paper (for fear of not having it available later).

Thus, trying to answer the question of why we run out of toilet paper, we know that this happens because, in order to avoid running out of toilet paper, we end up buying more than enough..

How do we act and why?

Basically what many people do is run to get their toilet paper, with this "panic" of running out, created in a totally irrational way (as if we were going to die for not being able to dry our asses with paper). This is reinforced by the fact that toilet paper packs are quite bulky, so their scarcity attracts attention, by leaving large empty spaces on the shelves of the stores..

They go to the supermarket and get their paper, but not just a "pack" of six, or twelve, but several packs, lest someone else (who wants to accumulate their five "packs" as well) comes along and "steals" it, or they go another day and there are no "packs" left.

Thus, we act in a totally irrational way, we act in a totally irrational way (albeit with some sense), fearing that someone else will run (just like us) to the store to get their paper accumulation, and leave nothing for us. Read like this, it sounds pretty absurd doesn't it?

What happens then? That we get our coveted paper, not so much for fear that it will run out due to lack of resources, as a consequence of the uncertain moment we are living due to the epidemic... but for the simple and only reason, that we are afraid that others will get it before us, because we are afraid that others will get it before us. we fear that others will get it before us (and finish it). (and finish it).

Result of this dynamic of fear

The result of all this explanation to the question of why toilet paper is running out is, logically, the arrival of images that many of us have seen over the last few days on the networks and other platforms: shelves of stores and supermarkets, where the paper should be, empty..

What happens? That in turn, these images end up getting to us, and awaken in us a certain feeling of "anxiety" that makes us enter into "panic", causing us to quickly go for our beloved (at that moment in our head, even essential!) toilet paper.

Extreme situations

We could say that in practically all countries, the sale of toilet paper has skyrocketed.According to the BBC, one person pulled out a knife in a supermarket during a dispute over toilet paper.

Situation of normality vs. "collective "crisis

Thus, analyzing why toilet paper runs out, we observe two types of totally antagonistic situations:

1. Normal times.

People believe that there will be plenty of toilet paper and that no one will stock "extra" quantities of toilet paper.. Therefore, their purchases are "normal" (proportionate, rational, meaningful...).

2. Times of panic

People are afraid of not having access to paper, i.e. that it will run out. They fear a shortage of the product, which causes them to hoard it. This, in turn, creates shortages, and the whole thing becomes a vicious circle..

Similarities with the banking panic

Thus, from the above, we can see why toilet paper runs out, and we also find a parallelism between the situation of running out of toilet paper and the banking or financial panic..

Thus, the situation of bank panic (also called bank stampede, bank run or bank siege, and in English "bank run" or "run on the bank") consists of a social phenomenon by which a large part of a bank's customers withdraw their money massively, and in a short period of time.

This withdrawal of money is done out of fear of not being able to withdraw the money in the near future, and this fear is born out of the fear of being unable to withdraw the money in the near future.This fear is caused by bank insolvency (since banks only have a certain amount of money in their accounts).

The massive withdrawal of money, generally appears due to the anticipation of a financial or economic crisis in the banks, although another possible cause is a change in the economic policy of the country in question. There are, however, more possible causes in this regard (although of lower probability).

As we can see, the same thing happens in the banking panic as in the toilet paper situation: there is a fear of not having something available, which causes the "urgency" to have it (also in the form of "accumulation", just in case), which generates a shortage of the product, which in the end does not reach all customers. which generates a shortage of the product, which ends up not reaching all the customers (or people) who really need it. (or people) who really need it.

Thus, we can speak of similarities in the reasons that explain why toilet paper runs out, and why money runs out in banks in situations of this type.

Rational or irrational behavior?

So, the answer to why toilet paper runs out in this pandemic, Or rather "collective madness"? Surely the second option; even if it is obvious that we buy "more" to avoid running "out", the basis of it all is quite irrational.

In relation to this issue, according to experts, it is rational for people to prepare themselves (psychologically, materially, etc.) for a negative situation that is occurring (or is about to occur). However, what is no longer rational what is no longer rational is to acquire an exaggerated and disproportionate number of products. and disproportionate number of products; that already goes beyond mere supply.

All this without mentioning the lack of solidarity and selfishness of people that we find at the base of this type of behavior (although sometimes it can arise "unconsciously").

The consequences of panic buying

As we have seen, behaviors of this type (of buying madness) worsen scarcity and feed the "collective madness" in which we have been immersed for a short time. into which we have gradually immersed ourselves without realizing it.

In addition, stockpiling products irrationally and disproportionately can lead to price gouging by companies, according to Steven Taylor, a clinical psychologist and professor at the University of British Columbia, author of "The Psychology of Pandemics."

What would happen, then? According to Taylor, if the price of toilet paper were to increase exaggeratedly, we would begin to see this product as a scarce commodity, which would This could further increase our anxiety and impulsivity when buying this or similar types of products..

In fact, such price increases have already occurred in various products since the advent of the coronavirus (COVID-19); one example is face masks, which were traded for prices of up to $100 per unit on platforms such as eBay.

Bibliographic references:

• Heffernan, S (2003). The causes of bank failures. Mullineux AW, Murinde V, ed. Handbook of international banking. Edward Elgar. pp. 366-402.