Analysis of Young Consumers' Consumption Behavior from the Perspective of Behavioral Economics

As the pace of economic development in China continues to accelerate and wage levels increase, more people are achieving financial prosperity, with young consumers displaying distinct consumption characteristics. Consequently, they have become a key focus of research for Chinese economists. National consumption, as an important component of Gross Domestic Product (GDP), is a crucial factor in promoting steady economic growth. Under the guidance of existing behavioral economics theories, consumer behavior, influenced by various psychological and environmental factors such as personal intentions and market conditions, can be categorized into two main patterns: rational consumption behavior and irrational consumption behavior. Therefore, analyzing young consumers' consumption behavior from an economic perspective is beneficial for the research and formulation of relevant economic policies in China. It also helps correct abnormal consumption behaviors, thereby promoting rational and scientific consumption.