E-Commerce Short Term Credit Interest Rate Discounts,Price Reductions,and Consumption Promotion:Can "Installment Interest Free" Bring Benefits?
The deep integration of Chinese e-commerce shopping platforms and consumer credit services enables manufacturers to flexibly initiate interest and fee discounts and use them for promotion.A dynamic panel data model is constructed for empirical analysis using a TV category dataset on JD.com of the year 2022,which includes multi-dimensional information such as"JD Baitiao"interest and fee discount conditions,prices,sales,and user comments.The results indicate that interest and fee discounts of short term consumer credit can indeed generate promotional effects.When interest and fee discounts are offered,product prices will relatively rise.However,combining the actual market interest rates with estimated results to calculate the comprehensive effect of interest and fee discount,it is found that this approach can generally enable consumers to obtain installment payment services at a lower cost even when the rise of price is taken into account,and it can also enable merchants to obtain a promotional effect that is roughly equivalent to directly giving equal price reductions by paying corresponding interest and fees on behalf of consumers.This conclusion reflects the positive role of e-commerce short term consumer credit interest and fee discounts in promoting household consumption.
e-commerceshort term consumer creditresident consumptioninterest and fee discountsproduct promotion
NETL
NSTL
万方数据
