In this study, a fixed effect model is established to empirically examine the effect of population aging on consumption in China. Research analyzing the influence mechanism of population aging on consumption quantity has yet to determine the effect of population aging on consumption quantity under various conditions. Panel data from 31 provinces and cities in China were analyzed, with the old-age dependency ratio as the main control variable, and considering income, economic development level (GDP), and consumer price index. The samples are divided into nationwide, as well as eastern, central, and western regions, for modeling and discussion. The results show that population aging negatively affects consumption quantity. In response to the negative impact, we propose relevant policies and suggestions for enhancing consumption quantity.

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