Evaluation of the role and mechanism of consumption voucher policy in Wuhan City in the context of the COVID-19 pandemic

Abstract

By analyzing the consumer feedback after the implementation of the Wuhan consumption voucher policy in 2020, this paper finds that consumers are satisfied with the design of the policy factors, including the convenience of receiving the vouchers. Meanwhile, combining theoretical and empirical analyses, this paper clarifies the mechanism of the consumption voucher policy and its effects. By evaluating the basic contradiction between consumers' demand for affordable consumption and the policy supply's pursuit of leverage and rapid market response, the paper proposes targeted suggestions such as coordinating, optimizing the process of issuing and collecting consumption vouchers, expanding the policy's beneficiary area, and strengthening publicity and supervision.