Consumer Behaviour Under the Influence of Anxiety

Narmin Othman Muhammad

Written by Journalist Narmin Othman Muhammad 

In its simplest definition, panic buying refers to people purchasing large quantities of goods suddenly, driven by fear of shortages, rising prices, or the occurrence of a crisis. Examples include the spread of epidemics, the outbreak of wars, economic crises, or natural disasters.
From a historical perspective, this phenomenon is not new. Rather, it is a collective behaviour that has always accompanied major crises, particularly when fear is linked to shortages of food or disruption of supplies. 
This phenomenon has appeared in various periods and events. Most notably during the world wars, the oil crisis of the 1970s, and the global financial crisis of 2008. The most recent and prominent example before us is the COVID-19 pandemic in 2020. During that period, a global wave of panic buying erupted on an unprecedented scale, to the extent that certain goods disappeared from markets, such as cleaning products, flour, pasta, and even toilet paper.
Call to Citizens
This phase is considered one of the most prominent and widespread forms of panic buying in modern times, due to the rapid spread of the phenomenon worldwide and the creation of a collective fear.
Today, as the world is preoccupied with monitoring the war between the United States and Israel against Iran, and as the entire Middle East is experiencing tension and anxiety, this sense of fear has also reached the Kurdistan Region. This fear is clearly visible in the markets, where you may see many families—sometimes only two people in a household—buying enough goods for three large families. At times, queues form in front of stores, particularly for food items, and sometimes certain products suddenly become unavailable.
This situation has led to calls within the Kurdistan Region for people not to panic, not to rush into buying goods, and not to repeatedly visit markets in a single day. Customers are urged not to purchase more than they need, so that others may also be able to obtain their essential goods and necessities.
Different Stages
It is true that the Kurdish people are a revolutionary and oppressed nation, having endured hardship, deprivation, and suffering throughout different stages of their historical struggle. However, they have always remained strong and resilient, finding ways to overcome such hardships.
Therefore, at a time when the current war has not yet affected our economy or food supplies, there is no need for citizens to fall into anxiety, fear, or panic—placing pressure both on their own finances and on the markets.
According to the principles of psychology and the history of crises, calmness and rational thinking are the best ways to confront wars and undesirable situations.