Listen Now: Panic Buying
Panic buying has begun again and it’s coming for your toilet paper.
As doctors predicted, Covid is spiking in states across the country. Cases, hospitalizations and deaths are all on the rise. And in many cities, people are reacting in the worst possible way—panic buying.
For the second time this year, shelves being emptied the fastest contain essential items such as paper towels, toilet paper, and cleaning supplies.
Pictures of empty aisles are once again being posted to social media and retail chains are reporting pockets of lower-than-normal availability. Some, including Target and Kroger, are putting purchase limits on customers to make sure there is enough to go around.
Some people say it’s the shelves at larger stores that are leading to the panic. When people see a small supply available, they buy it up. But at stores such as Dollar Tree or Walgreens, you can still easily find what you need.
Now companies that make some popular toilet paper brands say they are running plants around the clock to keep up with demand. You’d think people would have learned the first time around.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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