The Impact of Third Party Payment on Urban Residents’ Clothing Consumption
- 1 Business School, Beijing Institute of Fashion Technology, Beijing, China
- 2 Business School, Beijing Institute of Fashion Technology, Beijing, China
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.
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