Financial literacy and digital product consumption - An analysis based on CFPS data

This study explores the profound connection between financial literacy and the utilization of digital products. The research uncovers a substantial rise in digital product usage as one's financial knowledge improves. Moreover, household income and social interaction serve as significant mediators in this relationship. Additional investigations revealed that gender, geographical location, and urban/rural status moderate the connection between financial literacy and digital product consumption. More precisely, males, individuals residing in the eastern region, and urban dwellers tend to enhance their digital product usage more significantly upon enhancing their financial literacy, as opposed to females, central/western region residents, and rural inhabitants.