Based on the grey system theory, this paper systematically analyzed and compared the change trends and driving factors of the urban and rural residents' consumption in Shanghai. Using the consumption data from 2001 to 2009, two GM(1,1) grey models were firstly bulit to predict their change trends. For analyzing the driving factors of the trends, we integrated the current research, considered the comprehensiveness, importance and measurability of all related factors, finally screened 10 relatively important factors, then grey relational analysis was adopted to analyze their relative importance quantitatively, according to which two GM(1,N) dynamic models were established for further analyzing the influence mode to consumption.