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Impact of Income and Different Generation Cohorts on NurseryProducts and Landscaping Project Spending

Published online by Cambridge University Press:  26 January 2015

Lu Jin ,
Michael K. Wohlgenant  and
Charles D. Safley
Lu Jin
Affiliation:
Department of Economics, North Carolina State University, Raleigh, North Carolina
Michael K. Wohlgenant
Affiliation:
Department of Agricultural and Resource Economics, North Carolina State University, Raleigh, North Carolina
Charles D. Safley
Affiliation:
Department of Agricultural and Resource Economics, North Carolina State University, Raleigh, North Carolina
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Extract

Socioeconomic factors influencing consumer demand for nursery products andlandscape projects were investigated using consumer survey data collectedfrom North Carolina in 2008. Tobit models were estimated for censoreddependent variables, budget expenditure shares on nursery products, andlandscape spending. The most significant factors influencing the share ofincome spent on nursery products were age and household income. The elderlyand baby boomers tend to spend less on bedding plants, perennials, andoutdoor hardscapes than Generations X and Y. The income elasticities suggestthat the amount spent on outdoor living projects is sensitive to changes inhousehold income, whereas spending in vegetable plants and chemicals is lessresponsive to income.

Keywords

nursery productsexpendituresdemandTobitR51R58021023RHR38

Information

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 45 , Issue 1 , February 2013 , pp. 65 - 77
Copyright
Copyright © Southern Agricultural Economics Association 2013

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