Image credits: La Prensa
News Article

Panic Purchases in Times of COVID-19

By Miriam Bello | Tue, 03/24/2020 - 13:44

Panic purchases were among the first reactions when the COVID-19 outbreak started. No matter how much governments, companies and healthcare experts would call for calm and prudence, many self-service stores reported shortages on products such as hand sanitizer and facemasks.

In Mexico, shortages showed on facemasks, hand sanitizer and thermometers, which presents a problem for suppliers as many of the raw materials used for their production come from China.

CANACINTRA’s manufacturers of medical devices and healing materials report growth in facemask production from 100,000 to 150,000 units in a single day. Within this scenario, we cannot forget that the use of these supplies is important for the population but it is crucial for hospitals and medical facilities that see these as essential tools for their daily operations and even more so with the COVID-19 outbreak and a growing number of cases.

Jesus Granados, President of CANACINTRA’s Medical Devices and Healing Material Committee said the industry is ready to address this extraordinary demand but incentives and investment will be needed to fill gaps on things like raw materials, workforce and logistics. Companies like Grupo Modelo have been quick to respond by starting the production of hand sanitizer with the alcohol the company extracts from the beer-production process, specifically from the production of Corona Cero. The company expects to generate 4 million bottles of hand sanitizer that will be donated to IMSS. However, response from the government will be necessary as companies cannot absorb all the costs and production demand on their own.

The data used in this article was sourced from:  
El Economista, El Financiero
Photo by:   La Prensa
Miriam Bello Miriam Bello Senior Journalist and Industry Analyst