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Behavioral economics analysis of young consumer groups' addiction to trendy toy consumption
- 1 Dulwich International High School Programme Suzhou, China
* Author to whom correspondence should be addressed.
Abstract
In recent years, the phenomenon of young consumer groups' addiction to trendy toy products has garnered significant attention. This paper analyzes the addictive behaviors of young consumer groups in trendy toy consumption by applying behavioral economics theories and research methods, combining real-life interview cases and textual analysis. It identifies reference dependence, obsession with small probability events, the sunk-cost effect, and the ambiguity of metal accounting as the primary reasons leading to the addiction of young consumer groups to trendy toys. The paper also examines the mechanisms behind these behaviors. To help young consumer groups establish rational consumption concepts and promote the sustainable development of the trendy toy industry, five suggestions are proposed from the perspectives of comprehensive governance and co-construction, focusing on three aspects: consumers themselves, the government and society, and the trendy toy industry. This research not only enriches and expands the depth and breadth of academic research in theory and practice but also provides reference value for industry development and decision-making by related enterprises. Furthermore, it strengthens the theoretical foundation and offers practical insights for the healthy development of the trendy toy industry.
Keywords
behavioral economics, young consumer groups, trendy toy consumption addiction
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Cite this article
Wang,L. (2025). Behavioral economics analysis of young consumer groups' addiction to trendy toy consumption. Journal of Applied Economics and Policy Studies,18(3),51-54.
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Journal：Journal of Applied Economics and Policy Studies
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