Panic Buying Study

About the study

This study measures consumers’ panic buying driven by concerns that “prices will rise further” amid a rising exchange rate and accelerating inflation, including the products stockpiled, trust in inflation data, brands abandoned and price expectations; it was published in the February 2022 issue. (The concept was mentioned again in a BMD retail news article in June 2023.)

Key findings

• 61% of consumers engaged in panic buying; seven in ten say prices rose sharply in the preceding two months and expect their purchasing power to fall further.
• 69.2% do not trust TÜİK inflation data, rising to 77.5% in the AB socioeconomic status group.
• Cooking oil ranks first in panic buying (13.8%), followed by hygiene products (11%); one in five expects a discount from Yudum. 65.8% say they lack the financial means to buy the products they cannot purchase.
• 29% say, “I have given up many brands”; price increases are undermining brand loyalty, with basic foodstuffs taking priority.

Methodology

The study was conducted online on 13 January 2022 through the Eşzamanlı mobile panel, with 600 people aged 18–54 from the A, B, C1 and C2 socioeconomic status groups, distributed across regions to represent Türkiye.