Stocking up and stocking out: Food retail stock‐outs, consumer demand, and prices during the COVID‐19 pandemic in 2020

McLaughlin, Patrick W.; Stevens, Alexander; Arita, Shawn; Dong, Xiao

doi:10.1002/aepp.13362

Applied Eco Perspectives Pol

2023

DOI: 10.1002/aepp.13362

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Stocking up and stocking out: Food retail stock‐outs, consumer demand, and prices during the COVID‐19 pandemic in 2020

Patrick W. McLaughlin

Alexander Stevens

Shawn Arita³

et al.

Abstract: Monitoring food retail stock-outs or the unplanned unavailability of certain food items for purchase assists policymakers in responding to food supply chain disruptions. This study focuses on identifying food stockouts using store-level scanner data on US grocery store sales during the COVID-19 pandemic in 2020. The total median stock-out rates of fixed-weight items increased by approximately 130% after March 15, 2020. Categories such as meat and poultry products, some convenience and frozen foods, baby formul… Show more

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Cited by 3 publications

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Perspectives on high U.S. retail food prices during 2020–2022

Çakır,

Pérez,

Arita

et al. 2024

Food Policy

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Perspectives on high U.S. retail food prices during 2020–2022

Çakır,

Pérez,

Arita

et al. 2024

Food Policy

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Government payments and farm debt utilization during the pandemic

Chandio,

Katchova,

Subedi

et al. 2024

AFR

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PurposeThis study examines the heterogeneous relationship between ad-hoc support policies, high government payments, low interest rates and farm debt use across farms of different sizes and across farm operators of different races, genders and experiences to inform the 2024 Farm Bill discussions.Design/methodology/approachUtilizing USDA’s Agricultural Resource Management Survey data for 2020 and 2021, this study characterizes the differences in short-term farm debt use and the amount of short-term debt during the COVID-19 pandemic period across several farm and farmer types using double selection LASSO and regression analysis.FindingsResults show positive associations between government payments and debt use for all farm types and farmer demographics except for residence farms and non-white farmers, which may be due to their limited access to credit. Findings also indicate that farms that could already access credit, like commercial farms, increased their short-term debt during the pandemic per the decrease in interest rates. Moreover, the 2018 Farm Bill extended certain commodity support and direct and guaranteed loan program participation provisions that were previously more closely restricted. Beginning farmers seemed more likely to use short-term debt in response to higher pandemic government payments than their more experienced counterparts.Practical implicationsThe insights from this study are timely and useful for policymakers for designing and implementing programs related to the new 2024 Farm Bill.Originality/valueOne of the explanations for the results is that beginning farmers have been more likely to use debt than most other groups of operators, signaling the success of special credit provisions. Our results are relevant to making upcoming policies related to female and nonwhite farm and ranch operators.

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The Economics of Food Supply Chain Resilience

Hobbs,

Hadachek

2024

Annual Review of Resource Economics

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Food supply chain resilience has become a priority for policymakers in recent years. Prompted by several systemic disruptions and the increased likelihood of future shocks, significant attention and public financial investment have been devoted to preparing supply chains to be more able to absorb shocks and more nimbly respond in the future. Food and agricultural supply chains have been particularly scrutinized due to widespread shortages and food price inflation of key staples in recent years. Varied perspectives have emerged about the factors that contribute to the resiliency of food supply chains and the interventions that will be most effective. This article reviews the perspectives on food supply chain resilience generally. Furthermore, we attempt to synthesize the methodologies that have been used to study resilience and offer some guidance for economists studying the topic moving forward.

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Stocking up and stocking out: Food retail stock‐outs, consumer demand, and prices during the COVID‐19 pandemic in 2020

Cited by 3 publications

References 17 publications

Perspectives on high U.S. retail food prices during 2020–2022

Perspectives on high U.S. retail food prices during 2020–2022

Government payments and farm debt utilization during the pandemic

The Economics of Food Supply Chain Resilience

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