According to a survey by Rakuten Insight on panic buying after the coronavirus outbreak in South Korea in 2020, the top reason for bulk buying items was the concern that such items would soon be sold out. The second leading reason, especially for older people, was the concern that oneself or one's household would be quarantined due to a coronavirus outbreak, and so one would be unable to purchase groceries. Of the nearly ten thousand South Koreans surveyed, a mere 15.4 percent of respondents said they had engaged in panic buying.
Leading reasons 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 am afraid that the supermarket/shops would run out of these items soon
50.66%
47.23%
42.74%
41.86%
38.71%
I am buying for other family members/friends not in my household
9.87%
9.66%
11.86%
16.74%
12.9%
I think I/my household might be quarantined soon and would not be able to buy groceries
among female and male respondents who engaged in panic buying
Method of interview
Online survey
Supplementary notes
Original question: What influenced you to buy these items in bulk?
The survey was conducted among 793 female and 684 male respondents.
The survey was conducted among
152 respondents aged 16 to 24 years,
559 respondents aged 25 to 34 years,
489 respondents aged 35 to 44 years,
215 respondents aged 45 to 54 years and
62 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 to buy goods in bulk due to coronavirus (COVID-19) in South Korea in 2020, by age [Graph]. In Statista. Retrieved October 12, 2024, from https://www.statista.com/statistics/1120451/south-korea-drivers-for-stockpiling-after-coronavirus-outbreak-by-age/
Rakuten Insight. "Leading reasons to buy goods in bulk due to coronavirus (COVID-19) in South Korea in 2020, by age." Chart. May 8, 2020. Statista. Accessed October 12, 2024. https://www.statista.com/statistics/1120451/south-korea-drivers-for-stockpiling-after-coronavirus-outbreak-by-age/
Rakuten Insight. (2020). Leading reasons to buy goods in bulk due to coronavirus (COVID-19) in South Korea in 2020, by age. Statista. Statista Inc.. Accessed: October 12, 2024. https://www.statista.com/statistics/1120451/south-korea-drivers-for-stockpiling-after-coronavirus-outbreak-by-age/
Rakuten Insight. "Leading Reasons 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/1120451/south-korea-drivers-for-stockpiling-after-coronavirus-outbreak-by-age/
Rakuten Insight, Leading reasons to buy goods in bulk due to coronavirus (COVID-19) in South Korea in 2020, by age Statista, https://www.statista.com/statistics/1120451/south-korea-drivers-for-stockpiling-after-coronavirus-outbreak-by-age/ (last visited October 12, 2024)
Leading reasons 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/1120451/south-korea-drivers-for-stockpiling-after-coronavirus-outbreak-by-age/