Study on the Impact of COVID-19 Epidemic on Residents' Consumption Based on Consumption Big Data in the Yangtze River Delta Region

Since 2020, the COVID-19 Epidemic has had a drastic impact on the development of China's society and economy,and expanding consumer demand and stimulating consumption to make up for the epidemic is the most important task to promote the stabilisation of the domestic economy. Resident consumption, as a major component of final consumption expenditure, has an important supporting role for the national economic system. This paper aims to quantitatively assess the impact of resident consumption during the epidemic and its recovery in the later stage by analysing the consumption data of residents in the Yangtze River Delta region, in order to more scientifically and comprehensively grasp the pattern of consumption affected by the epidemic and help the government to accurately implement policies. This paper conducted an empirical study to quantify the impact of the epidemic on the total offline consumption of residents in the Yangtze River Delta (YRD) and the consumption of 14 categories during the period from the onset of the epidemic, the outbreak of the outbreak to its control, and based on the double-difference framework with the same time period of the Chinese lunar calendar in 2019 as the control group to predict the counterfactuals of consumption in YRD municipalities in the simultaneous period of 2020 when there is no epidemic, and comparing it with the real data, the results show that the negative impact on the total consumption of the residents In the 3rd and 4th weeks after the New Year to reach the maximum; Jiangsu, Zhejiang and Shanghai in the residents of offline consumption affected by the degree of Zhejiang, Shanghai, Jiangsu in descending order.