Diversification of residents’ consumption structure based on ELES model

Abstract

Based on the data of urban residents’ consumption in Jiangsu Province, this paper looks for the Statistical Yearbook of Jiangsu Province from Jiangsu Statistics Bureau, collects the required data of residents’ consumption structure, and defines the components of residents’ consumption structure in Jiangsu Province from eight aspects: clothing, food, housing, transportation and communication, medical care, culture, education, entertainment and other miscellaneous commodities. First, make a systematic theoretical explanation of these eight factors, so as to help us better understand how these eight factors are pieced together into a whole of residents’ consumption structure. Then it analyzes the present situation of consumption structure. Secondly, based on the relevant theories of residents’ consumption structure, in order to know the changes of the components of residents’ consumption structure in Jiangsu Province over the years, this paper analyzes the relevant data of the collected structural factors by using factor analysis and ELES model, based on the data from 2009 to 2018. In the last part, according to the previous analysis results, the characteristics of urban residents’ consumption structure in Jiangsu Province are summarized, and some suggestions and opinions are given. Finally, the future consumption structure is predicted according to the historical data, and some suggestions are given.