We worry about running short of food, toilet paper and basic human necessities. It’s driven by fear and anxiety. We worry, so we panic. We panic, so we buy at insane prices. Hustlers know this. Therefore, there’s no need for panic-buying. Just buy when we need it. And you hustlers stop hustling.
Hustlers will take advantage of our fear and anxieties. Yes, buying and selling at fair prices is a legitimate source of income. I’m not against making a profit. Nothing wrong with that; but when people do it to gouge others at a vulnerable time, it’s just plain wrong.
Many people will face tough times in the near future. People will lose their jobs. Small businesses will shut down and owners do not know if they will reopen. Families will suffer.
Before the coronavirus pandemic, we all had enough toilet paper. There was sufficient toilet paper in stock in every household, organization, school and business. No one worried about running out of toilet paper or hand sanitizer. Now, it’s a different story. My last two trips to the grocery stores, I stopped to look at the toilet paper aisle. Nothing.
If every single person refused to panic-buy, everything would continue as normal. Each person and family would have sufficient stock at home and go about business as usual–free from shortage and worry. Today, that’s not the case. Panic and fear has driven us into shortage.
If 5 out of 10 people bought up extra stock, the next 5 would have nothing for themselves. Five people buying just one extra would throw off the next 5 people. It’s simple math. If the same 5 didn’t worry about their lack, and just leave it on the shelf for the next person, the next 5 persons would have the toilet paper to purchase for themselves and their family. Simple right?
Logistics experts have this all figured. They can predict how much each store needs to order for that week. Logistics’ just-in-time arrival of stock don’t account for extra buying and hoarding. Perhaps they can start factoring in these upcoming and possible pandemics like COVID-19.
I was flabbergasted seeing the news video of a man who bought out all the Lysol hand wipes from a Costco in Vancouver. This couple sold them on Amazon and made Cdn $70,000-100,000. Buying a pack for $15-18 and reselling it for Cdn$89 is wrong. Another price-gouging incident in the news. Two brothers from Tennessee going from state to state buying from anywhere they could, bought 18,000 bottles of hand sanitizers. Their plan was to resell it for a profit at US$70 per bottle. Now he’s stuck with all of it in his garage. Their Amazon, EBay and Costco accounts were shut-down.
I hope they and others like them learn from this. Price gouging at the expense of others during this difficult time is very inconsiderate and is driven by greed. This is selfish behaviour and no excuse can justify this selfish behaviour.
Being considerate of the needs of others is one of the golden rules. Love your neighbor as how you would like to be loved by others. If we all followed this, none of us would be lacking anything.