Digital Economy Empowers Residents’ Consumption

Digital economy is a new form of economic development in recent years,and the new technology,new scene and new business form brought by digital economy also affect people’s life all the time.With the popularity of online shopping,live delivery and mobile payment,people’s consumption concept and behavior have also been greatly affected by the digital economy.Therefore,how to give full play to the impact of the digital economy and boost the quality and upgrading of consumption,so as to meet the people’s pursuit of a better life with higher quality,higher level and higher efficiency is of great significance.Firstly,this paper combs the relevant literature at home and abroad,systematically studies and refers to the relevant theoretical knowledge of digital economy and consumption,and constructs a theoretical analysis framework for the development of digital economy to change residents’ consumption behavior and then affect residents’consumption level and structure on the basis of reviewing the development process of digital economy and the changes of residents’ consumption in ChinaThen,the entropy method is used to construct the digital economy development evaluation index covering the four dimensions of digital economy infrastructure,digital economy activity,digital economy innovation ability,digital economy financial services and digital economy,so as to measure the development level of China’s digital economy.Then,the entropy method is used to construct the digital economy development evaluation index covering the four dimensions of digital economy infrastructure,digital economy activity,digital economy innovation ability,digital economy financial services and digital economy,so as to measure the development level of China’s digital economy.Finally,based on the dual perspectives of "quantity" and "quality",through the selected CHFS household financial survey data,using panel regression,instrumental variable regression,heterogeneity analysis and other methods,this paper empirically analyzes the impact degree and mechanism of the development of digital economy on household consumption level and consumption structure from the micro level of consumer behavior,And heterogeneity under different range groups.The research conclusions are as follows:(1)China’s digital economy is developing rapidly,and all kinds of infrastructure related to the development of digital economy are showing a steady growth trend.The consumption structure of residents has been continuously optimized,especially the consumption tendency of rural residents is higher than that of urban residents,which has great consumption potential.(2)From 2013 to 2019,the development level of digital economy in all regions of China has improved,but the regional development is very unbalanced,and there is a large gap in the development level of digital economy among regions.(3)The development of digital economy has effectively improved the consumption level of residents and the optimization and upgrading of consumption structure.Specifically,it has promoted the upgrading of consumption structure in the underdeveloped areas of the central and western regions and Northeast China.The improvement of consumption level and consumption structure of low-income groups is greater than that of high-income groups.The impact of digital economy on consumption of young and elderly groups is greater than that of middle-aged groups.According to the relevant research conclusions,this paper puts forward the corresponding policy suggestions:(1)we should continue to increase the investment in digital economy and focus on the release of consumption potential in rural areas.(2)Strive to build an inclusive network of digital economy and promote balanced regional development.(3)Improve the income level of residents,strengthen consumer education,and improve the digital consumption ability of aging groups..