How-South-Korea-avoids-panic-buying-despite-virus-outbreak
A South Korean convenient store promotes its delivery services. On top of e-commerce companies, the country’s discount chains also offer delivery services. Photo courtesy of GS Retail

South Korea manages to avoid panic buying despite the new coronavirus outbreak. The country’s discount chains and convenience stores are even offering discounts for food or daily necessities.

On top of Korea’s rich experiences in dealing with epidemics, observers said that its advanced delivery system is one of the major reasons why people do not stockpile.

And a big data-based study shows that such an analysis holds the truth as CJ Logistics, a leader in the logistics business here, on Thursday.

The Seoul-based company said that online orders for such items as bottled water, instant noodles, and canned foods more than doubled in the last week of February, from a week ago.

Back then, hundreds of new infection cases took place here to become one of the largest clusters outside China where COVID-19 started last December.

But the demand went back to normal in mid-March when the number of daily infection cases stabilized at around 100. This week, the figure furthered dipped to below 50.

CJ Logistics noted that firm trust in the delivery system also helped people calm down.

The orders of daily necessities and foods stabilized as soon as people learned that they can easily procure them online,” a CJ Logistics official told UPI News Korea.

And they started increasing the purchase of all the other products, which supports the hypothesis that the online delivery system prevents panic buying.”

South Korea has an advanced delivery system as people can get meals delivered to their homes, or even park grounds, in less than an hour.

Other products are also easily available, as demonstrated by Coupang, an online retailer that promises delivery within 24 hours.

Big-box store chains like E-Mart operates a dedicated e-commerce unit so that people don’t have to visit offline stores. Many convenient stores also offer delivery services.

 

This article is provided by UPI News Korea. _ ED.