TITLE:
The Impact of Third Party Payment on Urban Residents’ Clothing Consumption
AUTHORS:
Hongxuan Li, Chenggang Li
KEYWORDS:
Third-Party Payment, Clothing Consumption, Regression
JOURNAL NAME:
Theoretical Economics Letters,
Vol.11 No.6,
December
17,
2021
ABSTRACT: In recent years, with the progress and development
of Internet information technology, the third-party payment platform has
gradually sprung up, people’s life has been greatly facilitated, and the
payment method has also been changed. This paper mainly explores the impact of
third-party payment on urban residents’ clothing consumption and makes a
regression analysis on the time series data of China’s urban residents’
clothing consumption expenditure, the scale of third-party payment and the per
capita disposable income of urban residents from 2004 to 2019 by using Eviews
software. The results show that there is a long-term and stable equilibrium
relationship between urban residents’ clothing consumption expenditure, urban
residents’ per capita disposable income and the scale of third-party payment.
The consumption of urban residents starts from the pursuit of quantity and
quality. The expansion of the scale of third-party payment can indeed promote
the consumption of clothing by urban residents, which is conducive to expanding
domestic demand, driving market circulation and improving the industrial
structure.