流通企业数字化转型如何影响消费升级

How Does Digital Transformation of Circulation Enterprises Influence Consumption Upgrading?

中文关键词:  流通企业数字化转型  消费升级  企业全要素生产率  商品流通效率  融资约束

英文关键词:digital transformation of circulation enterprises  consumption upgrading  total factor productivity of enterprises  commodity circulation efficiency  financing constraints

中文摘要:

      数字化转型以高质量的信息流通赋予流通企业精准刻画消费需求的潜能,有望为促进消费升级提供重要引擎。通过构建多维消费升级指标体系,利用2013—2022年中国沪深A股上市流通企业与30个省份的数据,研究了流通企业数字化转型对消费升级的影响及其机制。研究发现:流通企业数字化转型能够促进消费升级；缓解融资约束以及提升商品流通效率和企业全要素生产率是流通企业数字化转型促进消费升级的重要渠道,并且流通企业数字化转型对批发效率的影响大于零售效率。异质性分析结果表明,东部和中部地区以及连锁化程度高的流通企业实施数字化转型能够显著促进消费升级。拓展性分析发现,当转型速度超过1.1372时,流通企业数字化转型才能够促进消费升级,而且流通企业数字化转型对消费升级的影响具有正向空间溢出效应。因此,应加快推进流通企业数字化转型,进一步提升商品流通效率,并缩小区域间流通企业数字化转型差距,以促进消费升级。

英文摘要:

      Digital transformation empowers circulation enterprises with the potential to accurately capture consumer demands through high-quality information flows, thereby serving as a critical driver for driving consumption upgrading. By constructing a multi-dimensional index system for consumption upgrading and utilizing data from China's A-share listed circulation enterprises in Shanghai and Shenzhen stock exchanges and 30 provincial-level regionsfrom 2013 to 2022, this study investigates the impact of digital transformation of circulation enterprises on consumption upgrading and its underlying mechanisms. The findings indicate that digital transformation of circulation enterprises promotes consumption upgrading. Specifically, alleviating financing constraints, enhancing the efficiency of commodity circulation, and improving the total factor productivity of enterprises serve as key channels in this process.Notably, digital transformation exerts a greater impact on wholesale efficiency than on retail efficiency. Heterogeneity analysis reveals that promoting effect is significant in the eastern and central regions and among highly chain-operated circulation enterprises. Further analysis demonstrates that digital transformation of circulation enterprises drives consumption upgrading only when the transformation speed exceeds 1.1372, and itexerts a positive spatial spillover effect on consumption upgrading. Therefore, it is imperative to accelerate digital transformation of circulation enterprises, further enhance the efficiency of commodity circulation, and reduce regional disparities in digital transformation to facilitate consumption upgrading. 