Drivers of Customer Retention: An Introspection Into Indian Retail Customers

2021 ◽  
pp. 097226292110435
Author(s):  
Jogi Mathew
Keyword(s):  
Customer Satisfaction ◽  
Customer Loyalty ◽  
Structural Equation ◽  
Customer Retention ◽  
Final Analysis ◽  
Major Influence ◽  
Customer Base ◽  
Loyal Customer ◽  
Prime Objective ◽  
Positive Word Of Mouth

There is a wide variety of choices for the modern retail customer including multiple retail formats. The success of the retail establishments has a great reliance of customer retention, which is an essential attribute to achieve profitability. This study takes in to consideration to extract the factors responsible for customer retention which in turn assists in increasing the customer base. The prime objective of the study is to ascertain the influence of customer satisfaction, switching costs and customer loyalty on customer retention. Whereas, the second one is to explore the effect of demographic factors on customer retention. The sample size of this study was 600 respondents who were chosen for the full-fledged study. The statistical techniques used for final analysis were structural equation modelling and regression. The findings subsequent to the statistical analysis and interpretation concluded that customer loyalty, customer satisfaction and switching cost have the strongest effect on customer retention in retails. Customer satisfaction alone is not every time an indicator of customer loyalty. A loyal customer will spread positive word of mouth to other prospective customers about the retail. Occupation of respondent has a major influence on customer retention dimensions.

The Role of Service Quality in Developing Customer Loyalty in the Banking Sector: A Case study of the Kingdom of Saudi Arabia

2014 ◽  
Vol 1 (1) ◽  
pp. 339
Author(s):  
Tariq Saeed Mian
Keyword(s):  
Saudi Arabia ◽  
Customer Satisfaction ◽  
Service Quality ◽  
Customer Loyalty ◽  
Banking Sector ◽  
Business Environment ◽  
Extensive Literature ◽  
Kingdom Of Saudi Arabia ◽  
Customer Base ◽  
Loyal Customer

Maintaining a strong and loyal customer base is the objective of every organisation. However, in reality this is difficult to achieve in the current competitive environment. When the widespread challenges of the business environment are taken into account, organisations cannot simply plan to absorb new customers but instead adopt the strategy of preserving existing customers and promoting their loyalty to the organisation. This study examined customer loyalty in the banking sector in the Kingdom of Saudi Arabia (KSA). A theoretical model was constructed through an extensive literature review and by extracting the most relevant and important variables for customer loyalty. A questionnaire was used to collect data from customers of different banks. Regression results showed that service quality significantly influences customer satisfaction and customer trust. Furthermore, customer satisfaction and trust significantly affect customer loyalty towards banks. In this respect, service quality is imperative to maintain customer loyalty through customer satisfaction and trust. 

scholarly journals Customer Retention Strategy Through Customer Satisfaction and Customer Loyalty: The Study on Traveloka Loyalty Program

2018 ◽  
Vol 2 (1) ◽  
pp. 69
Author(s):  
Fiona Poetri Komalasari ◽  
Surya Fajar Budiman
Keyword(s):  
Customer Satisfaction ◽  
Customer Loyalty ◽  
Customer Retention ◽  
Average Score ◽  
Loyalty Program ◽  
Retention Strategy ◽  
Customer Base ◽  
Customer Churn ◽  
Online Travel ◽  
Customer Satisfaction And Loyalty

Customer loyalty and customer retention is very closely related, customer loyalty stopped customer churn and strengthen the customer retention. The primary aim of retention strategy is to build a strong customer base and to prevent them from drifting towards other competitor. Traveloka as a travel supplier company, is the leading online travel agent in Indonesia. The customers satisfaction has an average score of 3,91. The result signify that Traveloka is successful in obtaining its customers’ satisfaction The customer loyalty has an average score of 4,04. Traveloka has managed to reach customer loyalty Traveloka customer satisfaction and loyalty are obtained as presented through chapter IV that the average is 3,97. In this research, Traveloka customer retention strategy using loyalty program is proven to be effective.

Is Customer Satisfaction an Indicator of Customer Loyalty?

2012 ◽  
Vol 02 (07) ◽  
pp. 14-20
Author(s):  
Rahim Ajao Ganiyu ◽  
Ignatius Ikechukwu Uche ◽  
Adeoti Olusola Elizabeth
Keyword(s):  
Customer Satisfaction ◽  
Consumer Research ◽  
Customer Loyalty ◽  
Strong Relationship ◽  
Welfare Economics ◽  
Economic Psychology ◽  
Customer Base ◽  
Business Environments ◽  
Loyal Customer ◽  
Customer Satisfaction And Loyalty

Customer satisfaction and loyalty is a well known and established concept in several areas like marketing, consumer research, economic psychology, welfare-economics, and economics. And has long been a topic of high interest in both academia and practice. The aim of the study was to investigate whether customer satisfaction is an indicator of customer loyalty. The findings of the study supported the contention that strong relationship exist between customer satisfaction and loyalty. However, customer satisfaction alone cannot achieve the objective of creating a loyal customer base. Some researchers also argued, that customer satisfaction and loyalty are not directly correlated, particularly in competitive business environments because there is a big difference between satisfaction, which is a passive customer condition, and loyalty, which is an active or proactive relationship with the organization.

Customer loyalty in the fast food restaurants of Bangladesh

2019 ◽  
Vol 121 (11) ◽  
pp. 2791-2808 ◽  
Author(s):  
Mohammed Belal Uddin
Keyword(s):  
Customer Satisfaction ◽  
Customer Loyalty ◽  
Fast Food ◽  
Structural Equation ◽  
Principal Component ◽  
Business Strategies ◽  
Equation Modeling ◽  
Content Type ◽  
Loyal Customer ◽  
Fast Food Restaurants

Purpose The purpose of this paper is to investigate the factors influencing the satisfaction of customer and customer loyalty in the fast food restaurant industry. A theoretical model, including hypotheses, has been proposed in this study. Design/methodology/approach Data were assembled using convenient sampling method. The hypothesized model was verified with the data from 204 respondents. Principal component analysis and structural equation modeling approach were applied to analyze data. Findings The results (significant at p<0.01 and p<0.05) exhibited that food quality, price and service quality were positively linked to customer satisfaction. Customer satisfaction was positively associated with customer loyalty. The empirical results found a contrary association between the location and environment of restaurant and customer satisfaction. Practical implications The managers and owners of fast food restaurants may use the results of this study to confirm customer satisfaction and loyalty of the customer. With loyal customer groups, their businesses can be sustained and gradually grown up. Originality/value This study will provide guidelines for the management of fast food restaurants to formulate their business strategies in the competitive market. It will give a signal to the managers to stay focused on customer relationship management as the ultimate goal of the business.

Do channel integration efforts pay-off in terms of online and offline customer loyalty?

2017 ◽  
Vol 45 (7/8) ◽  
pp. 859-873 ◽  
Author(s):  
Marta Frasquet ◽  
Maria-José Miquel
Keyword(s):  
Customer Satisfaction ◽  
Customer Loyalty ◽  
Two Dimensions ◽  
Content Type ◽  
Customer Base ◽  
Channel Integration ◽  
Multichannel Retailing ◽  
Loyal Customer ◽  
The Uk ◽  
The Impact

Purpose The purpose of this paper is to investigate the effects of multichannel integration (MCI) on customer loyalty. The specific objectives are to provide an appropriate reliable measure of the construct, and to analyse the impact of MCI on offline and online loyalty, both directly and by mediation of customer satisfaction. Design/methodology/approach The paper focusses on the retail apparel sector of Spain and the UK. The authors applied a scale development process and tested the model with data of 761 multichannel apparel shoppers. The proposed theoretical model was estimated through EQS 6.1 and a mediation test was calculated. Findings The findings show, first, that the construct of channel integration has two dimensions: reciprocity, which refers to the possibility of crossing the channels while shopping, and coordination, which refers to the alignment of offline and online offers. Second, that MCI affects positively both offline and online loyalty both directly and through satisfaction, which partially mediates the relationship. Research limitations/implications Culture might play a moderating role in the relationships found that are not analysed. Practical implications The findings have implications for the managers of multichannel retail companies as they help to understand the benefits of channel integration in creating a loyal customer base both online and offline. Originality/value This paper contributes to the literature on multichannel retailing in two main ways: first, by developing a scale to measure MCI, and second, by demonstrating that MCI has strong effects on customer satisfaction and loyalty.

scholarly journals HUBUNGAN ANTARA KEPUASAN DAN LOYALITAS MAHASISWA UNIVERSITAS BUNDA MULIA

2017 ◽  
Vol 5 (1) ◽  
Author(s):  
Lelly Christin
Keyword(s):  
Customer Satisfaction ◽  
Customer Loyalty ◽  
Word Of Mouth ◽  
Positive Word ◽  
Business World ◽  
Differentiation Strategy ◽  
Loyal Customer ◽  
Positive Word Of Mouth ◽  
Positive Recommendation

<p>Business world growth in rapid speed nowadays, because of that reason all the companies in business world try to make a differentiation strategy in order to be different than other company. One of important aspect which concern by all companies is customer satisfaction. Customer satisfaction is a part of company management, because of that those companies realize if they could fulfil this aspect they could have a profit. But, we can’t just rely on customer satisfaction to improve long term benefits. Loyal customer will not turn around to other similar companies. University must to construct customer loyalty. Loyal customers, in this case students usually give a positive recommendation (the likehood of spreading positive word of mouth).</p><p>Key Words- Satisfaction, Loyality, Student</p>

Memperkuat Loyalitas Melalui Kepercayaan, Kepuasan Dan Komitmen Studi Pada Nasabah PT. Bank Cimb Niaga

Liquidity ◽  
2018 ◽  
Vol 4 (1) ◽  
pp. 43-52 ◽  
Author(s):  
Sri Widyastuti
Keyword(s):  
Customer Satisfaction ◽  
Relationship Quality ◽  
Structural Equation Model ◽  
Customer Loyalty ◽  
Structural Equation ◽  
Positive Influence ◽  
Equation Model ◽  
Survey Method ◽  
Branch Office

Customer loyalty is ‘suspected’not been able to optimizationrepetition of transactions, customer recommendation and durability with the establishment relationship quality of the trust, customer satisfaction and commitment. Therefore, research conducted on Bank CIMB Niaga aims to determine the extent of the trust, and commitment to customer satisfaction can increase X-tra and TabunganKU savings customer loyalty. This research is verification and the method of research is explanatory survey method, the sample is 160 customer X-tra and tabunganKU savings in the branch office Bank CIMB Niaga Bintaro. The analytical method used is structural equation model. The results showed loyalty can be achieved with relationship quality for customers through the establishment of trust, and commitment to customer satisfaction, which all three have a positive influence. Therefore, the management of Bank CIMB Niaga need to improve their ability in trust, satisfactionand commitmentwith the bank's customers to become increasingly favored customers.

Pengaruh E-Service Quality terhadap Customer Satisfaction dan Loyalty pada Pengguna Gopay di Indonesia

2020 ◽  
Vol 4 (2) ◽  
pp. 11
Author(s):  
Miranda Berliana ◽  
Dinda Amanda Zulestiana
Keyword(s):  
Customer Satisfaction ◽  
Service Quality ◽  
Structural Equation Model ◽  
Customer Loyalty ◽  
Structural Equation ◽  
Equation Model

Abstrak: Pada era modern saat ini kemajuan teknologi semakin berkembang pesat dan membawa kita kepada arah basis digital dan mobile. Fenomena tersebut dimanfaatkan oleh industri perbankan untuk berinovasi dalam hal pembayaran secara elektronik yang biasa kita sebut dengan e-money. Uang elektronik muncul dipicu dengan adanya tuntutan dari masyarakat saat ini. Sistem pembayaran yang ada saat ini dituntut untuk dapat melayani setiap kebutuhan masyarakat dalam pemindahan dana dengan efektif dan efisien. Salah satu inovasi yang diluncurkan saat ini adalah Gopay, metode pembayaran berbasis server yang dikeluarkan oleh Gojek Indonesia. Penelitian ini memiliki tujuan yaitu menentukan efek e-service quality pada customer satisfaction dan customer loyalty pelanggan Gopay di Indonesia. Kuesioner dikumpulkan secara online dengan menggunakan google form sebanyak 400 responden. Pengolahan data menggunakan Structural Equation Model (SEM) dengan menggunakan bantuan program AMOS 24. Berdasarkan hasil penelitian ditemukan bahwa e-service quality memiliki pengaruh positif terhadap customer satisfaction, yang dimana customer satisfaction sendiri memiliki pengaruh yang positif terhadap customer loyalty, namun ditemukannya ketidak pengaruhan yang positif bagi e-service quality terhadap customer loyalty.

FEATURE,NILAI, KEPUASAN DAN LOYALITAS PELANGAN

2017 ◽  
Vol 2 (1) ◽  
pp. 45-52
Author(s):  
Iha Haryani Hatta
Keyword(s):  
Structural Equation Modeling ◽  
Customer Satisfaction ◽  
Customer Loyalty ◽  
Significant Influence ◽  
Customer Value ◽  
Structural Equation ◽  
Equation Modeling ◽  
Relationship Of ◽  
The Relationship ◽  
Customer Satisfaction And Loyalty

The aim of this study was to determine the relationship of the features of the value, satisfaction, and customer loyalty; the effect on the value of customer satisfaction and loyalty; influence of satisfaction on customer loyalty. A total of 200 merchant PT. BANK XYZ as respondents was selected randomly. Analyses were performed using structural equation modeling (SEM). The analysis showed that the feature has a significant influence on customer value, but not for customer satisfaction and loyalty. The values has a significant influence on satisfaction, but not on customer loyalty. Satisfaction has a significant influence on customer loyalty. Discussion and conclusions described in the article. Keywords: features of the value, satisfaction, customer loyalty

Electronic Customer Relationship Management (E-CRM) and Customer Loyalty

2022 ◽  
Vol 18 (1) ◽  
pp. 0-0
Keyword(s):  
Customer Satisfaction ◽  
Customer Loyalty ◽  
Structural Equation ◽  
Service Providers ◽  
Positive Impact ◽  
Equation Model ◽  
Mediating Effect ◽  
Customer Relationship ◽  
The Impact ◽  
The Relationship

This study examined the impact of E-CRM on customer loyalty with the mediating effect of customer satisfaction in the banking industry. Customer satisfaction is important for loyalty because when the customers are satisfied with the services offered by their service providers, the relationship gets stronger which further leads to positive word-of-mouth. The data was collected using purposive sampling from 836 banks’ customers who were using E-CRM services and the data was analyzed using structural equation model (SEM) through AMOS. The results revealed that E-CRM and customer satisfaction had a significant positive impact on customer loyalty and also customer satisfaction partially mediated the relationship between E-CRM and customer loyalty. This study would offer useful acumen to both academicians and marketers and would help the bank managers to improve the quality of the services provided to their customers.

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