People are panic buying amid the port strike. There's no need, experts say

Experts call it completely unnecessary, yet some cannot resist the urge to panic-buy right now.

The nationwide port strike is being blamed for a rush on products like toilet paper and bottled water, nightmarish reminders of the pandemic.

“I think it’s crazy, I really do,” said Brenda Campbell outside a Costco in Duncanville, Texas.

Campbell and her husband Ben went to Costco for their monthly trip to stock up on essentials. But on Wednesday’s trip, they left without them.

“It’s a madhouse,” said Ben Campbell.

Inside, the floor was empty of pallets piled with toilet paper, paper towels, and bottled water. The line to check out was about 20 people deep.

“They bought up all the paper towels, all the toilet tissue, all the water, the chickens, eggs, and they're just buying up everything, and I just saw a man a while ago with, like, 10 cases of beer,” said Brenda Campbell.

At a nearby Walmart in Duncanville, it wasn’t quite as bad. Shelves for toilet paper were nearly empty but about to be restocked.

“People are going to be people, aren't they?” said Michael Davis, an economics professor for the SMU Cox School of Business.

Davis said the lack of essentials on shelves is not because of the dock workers' strike that's brought 14 major U.S. ports to a standstill. It's from panic-buying when consumers stock up in anticipation of a disaster.

“At the very best, I can say that it’s premature, and frankly, it's silly, because even if the strike goes on for a long time, there's going to be ways to get essentials on store shelves,” explained Davis.

Davis said companies regularly prepare for supply chain problems.

Still, images shared on social media show near-empty shelves at major retailers around the country.

A Sam’s Club in Plano, Texas, still had plenty of paper goods on shelves.

Back in Duncanville, the Campbells said they'll try again on Thursday to locate products they normally have no trouble finding.

“That means we got to get out early in the morning,” said Ben Campbell.

The Longshoremen's Association, the union representing 45,000 port workers, including many in Galveston, went on strike on Tuesday at midnight when contract talks with the U.S. Maritime Alliance broke down.

Workers were reportedly offered a 50% wage hike, but union leaders want more, including a $5 an hour yearly raise for a new six-year contract.

The union also wants to halt port automation projects, which may threaten union jobs.