Research On The Influence Of Digital Economy On Residents’ Consumption

In recent years,the rapid development of new economic models based on digital technology has injected new vitality into China’s high-quality economic growth,affecting all aspects of economic and social development,especially people’s consumer life.In the digital economy,mobile payment has become the most commonly used means of payment.People feel less loss of money when they adopt mobile payment than when they pay in cash,and therefore the amount of consumption is increasing.The digital economy has also led to the development of industries and higher incomes for people,which in turn boosts their consumption.The digital economy is growing rapidly around the world,and the establishment of a scientific indicator system to measure the level of development of the digital economy in China’s provinces is crucial to relevant policy formulation,and the study of its impact on human consumption is an important issue for high-quality economic development in the new era.Firstly,this paper analyses the direct impact of the development of the digital economy on residents’ consumption and the indirect impact on residents consumption mediated by e-commerce,based on Marxism’s theory of production and consumption,the absolute income hypothesis and the relative income hypothesis,in conjunction with existing research.Secondly,based on the principles of systematic,logical,scientific and accurate construction of indicators,an indicator system is established to measure the level of development of the digital economy.The development index of the comprehensive level of digital economy of 30 provinces in China from 2013 to 2021 is measured using the entropy method,and the development of digital economy in the whole country and the eastern,central and western regions is analyzed.Then,a two-way fixed effects model is determined to empirically investigate the direct impact of the digital economy on residents’ consumption,and the regional heterogeneity of the east,central and western regions is examined to check whether there is any variability in the impact of the digital economy on residents’ consumption in different regions.By constructing a mediating effects model with e-commerce as the mediating variable,the indirect influence mechanism of the digital economy on residents’ consumption is empirically analysed,and it is found that the digital economy indirectly influences residents’ consumption through e-commerce,and all the empirical results have passed the robustness test.This paper draws the following conclusions from empirical research: first,the level of digital economy development in China’s provinces from 2013 to 2021 has been increasing,with huge inter-provincial differences in the level of digital economy development;by region,the eastern region has the highest level of digital economy development,followed by the central region,and the western region has the lowest level of digital economy development,and the inter-regional difference in the level of digital economy development between regions is gradually narrowing.Secondly,the digital economy can promote residents’ consumption.The digital economy has a significant effect on residents’ consumption in the eastern,central and western regions,with the largest coefficient of influence on residents’ consumption in the central region,followed by the western region,and the smallest in the eastern region.Thirdly,e-commerce has a mediating effect between the digital economy and residents’ consumption,and the digital economy can indirectly promote residents’ consumption through promoting e-commerce development.Finally,taking into account the development of China’s digital economy and the results of the study,this paper puts forward some countermeasures and suggestions: speed up the construction of the digital economy infrastructure,introduce talents in digital information technology and narrow the gap between urban and rural areas and regions in the digital economy;strengthen the supervision of the online consumption system and protect the safety of residents’ property when using mobile payment;avoid impulsive shopping and guide consumers to rational consumption.