International Journal For Multidisciplinary Research
A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal
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Volume 5 Issue 6
The Influence of Demographics on Consumer Spending in California
|Abstract||The relationship between economic development and demographics is well documented and instrumental to national financial planning in many countries globally. In a dynamic socio-economic environment such as California, the effects of a changing population structure have several implications on politics, allocation of resources, provision of public services, business profitability, and many other facets affecting the lives of people of the world’s fifth-largest economy.
It cannot be over-emphasized that the higher the capacity for consumer spending, the better the quality of life of an individual, hence the need to look at areas of population structures that require attention to address the widening gaps between the “haves and the have not or not adequate.”
Given the above, this research paper sets out to investigate and explore the ramifications of population characteristics on the economic well-being of resident Californians concerning consumer spending. It will critically examine the existing gender and income inequalities affecting different ethnicities in the state and proffer solutions for improvement, particularly in the area of enhancing better standards of living for all.
The paper will lean more on how the flux in the various demographic factors affects businesses and their viability, especially considering present public health circumstances such as the COVID-19 pandemic.
|Keywords||: Influence, Demographics, Consumer Spending, Income|
|Published In||Volume 5, Issue 6, November-December 2023|
|Cite This||The Influence of Demographics on Consumer Spending in California - Michael Aduba - IJFMR Volume 5, Issue 6, November-December 2023. DOI 10.36948/ijfmr.2023.v05i06.8418|
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