Most grocery stores are only big enough to provide food for a fraction of the residents in the area.  If everyone went to the store at the same time to get a few days of food, it wouldn’t be possible.  The demonization of “panic buying” is (mostly) based on the error that there’s enough food to go around.  The opposite is true.  The fact is, that “just in time” inventory standards (minimize food waste) mixed with “just big enough” grocery store sizes (keep rent and property taxes low) are designed to feed a modern populace who only needs groceries every week or so.  The grocery stores are there to make money not feed everyone.  

What I don't get is that the authorities tell us to stay home and avoid going out. How can you avoid regularly going out (i live in Manhattan) if you don't hoard?

Matthew,
You say there is 20x more food being sold; I say it's due to the 20-30% of meals that used to be "eaten out", but now people are going to the grocery instead.  If every person who lived close to a grocery store went in there (during a 1 week period) and bought milk, eggs, bread, produce, etc in order to eat 3 square meals a day (normal portions, no extra food), the grocery store wouldn't have the capacity.  It would run out in 3 days.  It's not overbuying, it's due to the fact that people aren't eating out at restaurants and fast food and haven't done so for the past decade.  So grocery chains have scaled back their inventories.  Eating out is a LARGE % of how people eat; that's why Federal/State officials have encouraged drive-thrus to stay open.  So when people stop eating out and instead go to the grocery, then the stores can't handle the surge in demand.
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Sure, there has been panic buying of TP and maybe some other foods but not to the extent reported by the media.  Most of the reason why grocery stores are out of stock is simply because people are eating there due to panic that restaurants/fast food might close.  Grocery stores aren't designed to feed everyone in their area 3 square meals a day. 

Matthew,
You say there is 20x more food being sold; I say it's due to the 20-30% of meals that used to be "eaten out", but now people are going to the grocery instead.  If every person who lived close to a grocery store went in there (during a 1 week period) and bought milk, eggs, bread, produce, etc in order to eat 3 square meals a day (normal portions, no extra food), the grocery store wouldn't have the capacity.  It would run out in 3 days.  It's not overbuying, it's due to the fact that people aren't eating out at restaurants and fast food and haven't done so for the past decade.  So grocery chains have scaled back their inventories.  Eating out is a LARGE % of how people eat; that's why Federal/State officials have encouraged drive-thrus to stay open.  So when people stop eating out and instead go to the grocery, then the stores can't handle the surge in demand.
.
Sure, there has been panic buying of TP and maybe some other foods but not to the extent reported by the media.  Most of the reason why grocery stores are out of stock is simply because people are eating there due to panic that restaurants/fast food might close.  Grocery stores aren't designed to feed everyone in their area 3 square meals a day.

Now this is logic and reason!!

It's not just the media claiming the shelves are empty.

I've seen it myself. I went to H-E-B at 7:45 PM a few days ago, and it looked like a post-collapse disaster movie. It was absolutely surreal. It was a scene I had seen many times before -- since I've watched many "survival" and "disaster" movies. Never seen it IRL before now.

It wasn't just bread/milk/eggs/TP. Most canned goods were GONE. Most frozen convenience food was GONE. No Tyson products at all.

And EVERYTHING is quantity-limited. I tried to buy 6 boxes of cereal for my family of 10 -- sorry, limit of 4. Doesn't matter if you're living alone or have 12 kids.
Milk is limited to 2. That's a 1.5 day supply for my family! We have to go through the checkout several times.

In the same town, every restaurant had a long line in the drive-thru.

It feels like about 100,000 people just moved into the town, and they all need to eat.

It's not just the media claiming the shelves are empty.

I've seen it myself. I went to H-E-B at 7:45 PM a few days ago, and it looked like a post-collapse disaster movie. It was absolutely surreal. It was a scene I had seen many times before -- since I've watched many "survival" and "disaster" movies. Never seen it IRL before now.

It wasn't just bread/milk/eggs/TP. Most canned goods were GONE. Most frozen convenience food was GONE. No Tyson products at all.

And EVERYTHING is quantity-limited. I tried to buy 6 boxes of cereal for my family of 10 -- sorry, limit of 4. Doesn't matter if you're living alone or have 12 kids.
Milk is limited to 2. That's a 1.5 day supply for my family! We have to go through the checkout several times.

In the same town, every restaurant had a long line in the drive-thru.

It feels like about 100,000 people just moved into the town, and they all need to eat.

Bring one or two of the older children with you, and they can each buy what you need for your family.

And EVERYTHING is quantity-limited. I tried to buy 6 boxes of cereal for my family of 10 -- sorry, limit of 4. Doesn't matter if you're living alone or have 12 kids.

True and very interesting.  Here we're allowed TWO cans of soup  

How is it that a single man is theoretically allowed to buy as much food as a father of 10?  Is that supposed to make sense?