According to a survey by Rakuten Insight on panic buying due to the coronavirus outbreak in South Korea in 2020, the top reason for not engaging in panic buying was trust that there would continue to be enough supplies at supermarkets. A second concern, in particular for older people, was the thought that it would be socially irresponsible to hoard supplies. Of the almost ten thousand Koreans surveyed, only 15.4 percent took part in panic buying.
Leading reasons not to buy goods in bulk due to coronavirus (COVID-19) in South Korea in 2020, by age
Characteristic
16 to 24 years old
25 to 34 years old
35 to 44 years old
45 to 54 years old
55 years and older
I trust that there would be enough supplies in the supermarket
32.63%
50.13%
49.37%
52.3%
44.45%
I do not think it is socially responsible to hoard food and essential items during this time
among female and male respondents who did not engage in panic buying
Method of interview
Online survey
Supplementary notes
Original question: Why did you decide not to bulk buy during this time?
The survey was conducted among 3,554 female and 4,571 male respondents.
The survey was conducted among
613 respondents aged 16 to 24 years,
1,903 respondents aged 25 to 34 years,
2,475 respondents aged 35 to 44 years,
2,025 respondents aged 45 to 54 years and
1,109 respondents aged 55 years and older.
Other surveyed countries included China, Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore and Taiwan.
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Rakuten Insight. (May 8, 2020). Leading reasons not to buy goods in bulk due to coronavirus (COVID-19) in South Korea in 2020, by age [Graph]. In Statista. Retrieved November 17, 2024, from https://www.statista.com/statistics/1120444/south-korea-reasons-against-stockpiling-after-coronavirus-outbreak-by-age/
Rakuten Insight. "Leading reasons not to buy goods in bulk due to coronavirus (COVID-19) in South Korea in 2020, by age." Chart. May 8, 2020. Statista. Accessed November 17, 2024. https://www.statista.com/statistics/1120444/south-korea-reasons-against-stockpiling-after-coronavirus-outbreak-by-age/
Rakuten Insight. (2020). Leading reasons not to buy goods in bulk due to coronavirus (COVID-19) in South Korea in 2020, by age. Statista. Statista Inc.. Accessed: November 17, 2024. https://www.statista.com/statistics/1120444/south-korea-reasons-against-stockpiling-after-coronavirus-outbreak-by-age/
Rakuten Insight. "Leading Reasons Not to Buy Goods in Bulk Due to Coronavirus (Covid-19) in South Korea in 2020, by Age." Statista, Statista Inc., 8 May 2020, https://www.statista.com/statistics/1120444/south-korea-reasons-against-stockpiling-after-coronavirus-outbreak-by-age/
Rakuten Insight, Leading reasons not to buy goods in bulk due to coronavirus (COVID-19) in South Korea in 2020, by age Statista, https://www.statista.com/statistics/1120444/south-korea-reasons-against-stockpiling-after-coronavirus-outbreak-by-age/ (last visited November 17, 2024)
Leading reasons not to buy goods in bulk due to coronavirus (COVID-19) in South Korea in 2020, by age [Graph], Rakuten Insight, May 8, 2020. [Online]. Available: https://www.statista.com/statistics/1120444/south-korea-reasons-against-stockpiling-after-coronavirus-outbreak-by-age/
