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Impact of Income and Different Generation Cohorts on Nursery Products and Landscaping Project Spending

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  • Jin, Lu
  • Wohlgenant, Michael K.
  • Safley, Charles D.

Abstract

Socioeconomic factors influencing consumer demand for nursery products and landscape projects were investigated using consumer survey data collected from North Carolina in 2008. Tobit models were estimated for censored dependent variables, budget expenditure shares on nursery products, and landscape spending. The most significant factors influencing the share of income spent on nursery products were age and household income. The elderly and baby boomers tend to spend less on bedding plants, perennials, and outdoor hardscapes than Generations X and Y. The income elasticities suggest that the amount spent on outdoor living projects is sensitive to changes in household income, whereas spending in vegetable plants and chemicals is less responsive to income.

Suggested Citation

  • Jin, Lu & Wohlgenant, Michael K. & Safley, Charles D., 2013. "Impact of Income and Different Generation Cohorts on Nursery Products and Landscaping Project Spending," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 45(1), pages 1-13, February.
    • Handle: RePEc:ags:joaaec:143662
    DOI: 10.22004/ag.econ.143662
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    References listed on IDEAS

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    1. Hinson, Roger A. & Paudel, Krishna P. & Velástegui, Marco, 2012. "Understanding Ornamental Plant Market Shares to Rewholesaler, Retailer, and Landscaper Channels," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 44(2), pages 173-189, May.
    2. Heien, Dale & Wessells, Cathy Roheim, 1990. "Demand Systems Estimation with Microdata: A Censored Regression Approach," Journal of Business & Economic Statistics, American Statistical Association, vol. 8(3), pages 365-371, July.
    3. Abdelmagid, Banaga D. & Wohlgenant, Michael K. & Safley, Charles D., 1996. "Demand for Plants Sold in North Carolina Garden Centers," Agricultural and Resource Economics Review, Cambridge University Press, vol. 25(1), pages 28-37, April.
    4. Abdelmagid, Banaga D. & Wohlgenant, Michael K. & Safley, Charles D., 1996. "Demand For Plants Sold In North Carolina Garden Centers," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 25(1), pages 1-10, April.
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    Cited by:

    1. Salois, Matthew J. & Reilly, Amber, 2014. "Millennial Parents and the Effectiveness of Generic Advertising for 100% Orange Juice," 2014 Annual Meeting, February 1-4, 2014, Dallas, Texas 162592, Southern Agricultural Economics Association.

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    More about this item

    Keywords

    Marketing;

    JEL classification:

    • R51 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Finance in Urban and Rural Economies
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy
    • O21 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy

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