Research on the Impact of Digital Economy on Residents' Consumption Upgrading

Abstract

The deep integration of digital technology and the real economy has injected new power into the consumer market, and the role of digital economy in promoting residents' consumption upgrading is especially obvious in the post epidemic era. Panel data from 2014-2020 of 30 provinces in China except Tibet are selected to examine the driving role of digital economy on residents' consumption upgrading based on the perspective of technological innovation intermediary. The results of the study show that: from the overall level, the digital economy significantly promotes the upgrading of residents' consumption, but there is obvious regional heterogeneity; from the perspective of the mediation effect, the digital economy promotes the optimization of the residents' consumption structure through the channel of technological innovation; however, the technological innovation path of the digital economy to promote the level of residents' consumption is not significant, due to the impact of the two types of technological innovation, namely, product innovation and technological innovation, which are offsetting the impact of the two types of technological innovation on the level of residents' consumption. significant. Therefore, we should accelerate the breakthrough of digital technology innovation, fill the gap of digital economy development between regions, promote the coordinated development of East, Middle East and West China, and promote the upgrading of residents' consumption.