· 01:50
When winter weather approaches, the simple act of stocking up on milk and bread transforms into a fascinating case study of consumer behavior and economics, as explained by N.C. State University professor Robert Handfield. The article explores how the ritual of quickly grabbing these staples—despite more practical alternatives like non-perishables—is driven by a mix of habit, perceived scarcity, and a touch of competitive spirit, reminiscent of the panic buying seen during the early days of the COVID pandemic. With roots tracing back to a severe 1978 New England snowstorm, this behavior endures, manifesting itself each time a forecast predicts potential disruptions, even as grocery stores continue to restock and deliver essential items like peanut butter, canned soup, frozen pizza, and beer.
Key Points:
Why did the milk and bread start a band during the snowstorm? Because they knew they always had a great "roll" in times like these!
Link to Article
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