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Chinese Older Adults' Consumption Expenditure Structure and Its Determinants
Yang Fan,Pan Yue,Huang Yingjiao
Population Research
2020, 44 (5):
60-79.
In the era of accelerated population aging, the proportion of older adults in the consumer group also increases tremendously. Based on data from China Longitudinal Aging Social Survey, this article employs the analytical framework of Kotler's consumption behavior model and K-means clustering analysis method to categorize different types of consumption structure for Chinese older adults. Logistic regression method is conducted to analyze the factors affecting the consumption structure upgrading. The results show that the consumption patterns of the older adults are diverse, and their upgrades have not been hindered. The transformation from the basic to the developmental consumption structure is driven by demand factors and restricted by resource factors, and also supported by social networks, technology, and other external factors. These factors have heterogeneous impacts on older adults from urban/rural areas at different ages and income levels. These differences call for differentiated policies targeting on different subgroups.
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