While there certainly is some very questionable panic buying going on, there are also, I believe, two other underlying currents you don’t hear much about making the situation worse:

1. The unethical… People hoarding in order to resell and price gouge on sites like eBay, CraigsList and even Amazon. Some of the pricing is outrageous and there is plenty of evidence of people buying up inventory to scalp crazy profits.
2. The changed eating habits… every wonder where people are getting fed when not patronizing their local restaurants? Yes. They are cooking and eating at home. So, since more people are doing more cooking from home, where do you think they are getting the ingredients? From their local supermarkets, etc. Simply put, people are buying more food at the grocery so they can make more meals at home in lieu of going out. And it is not just food. If you cook all your meals (or virtually all your meals) at home, you will also need more napkins, dish washing detergent, papers towels, etc., etc. — the ancillary things also out of stock at the local store.

What we are seeing is the shifting of a significant source of food supplies moving from restaurants, deli’s and fast food places to your local corner market.