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Abstract

Based on the survey data concerning residents in Hangzhou City, we analyze the main factors influencing consumers' spending decisions, using Probit model. The results show that gender, age, and personal income have a significant positive effect on whether to drink tea; the degree of understanding of the tea, and the number of acquaintances drinking water also have a significant positive effect on whether to drink tea; but individual career, unit characteristics, and educational level have no significant positive effect on whether to drink tea. This research conclusion can provide microscopic evidence for the tea industry's healthy development and formulation of marketing strategies; at the same time, provide a reference for marketing of the other hobby products.

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