scholarly journals Identifying The Factors That Influence Retail Customer Loyalty And Capitalising Them

2012 ◽  
Vol 11 (11) ◽  
pp. 1223
Author(s):  
Michael Colin Cant ◽  
Michael Du Toit
Keyword(s):  
South Africa ◽  
Customer Service ◽  
Customer Loyalty ◽  
Financial Services ◽  
The United States ◽  
Relationship Building ◽  
Marketing Plan ◽  
Customer Base ◽  
Loyal Customer ◽  
Loyalty Programme

Much has been said about loyalty and the advantages that a loyal customer base offers to an organisation and more specifically to retail customers. With more than 2 billion loyalty programme memberships including hotel, supermarket, airline and financial services in the United States alone it is clear that loyalty programmes are an essential part of the marketing plan and strategy of retail organisations a road to survival, growth and profits. This study focussed on one particular clothing retailer in Gauteng that on its own represents 20.3% of the market making it the largest clothing retailer in South Africa. Gauteng was selected due to its stature as the largest clothing retailer in South Africa and also the nature of its customer base which consists of three distinct groups of customers: (1) cash only non-loyalty programme members, (2) cash only loyalty programme members, and (3) credit customers who purchase on terms. This study investigated the factors that influence customer loyalty amongst members of a retail loyalty programme in the apparel retail industry and found that the two most important drivers of customer loyalty were merchandise availability and customer service related variables. Price did not feature as an important driver of loyalty opening opportunities for retailers to focus on loyalty marketing strategies that do not revolve solely around price but rather focus on long-term relationship building. The responses received from this research were illuminating and will be of value to retailers who have an existing loyalty programme or are contemplating the starting of a programme.

scholarly journals An application of retailing service quality practices influencing customer loyalty toward retailers

2017 ◽  
Vol 35 (7) ◽  
pp. 842-857 ◽  
Author(s):  
Achchuthan Sivapalan ◽  
Charles Jebarajakirthy
Keyword(s):  
Service Quality ◽  
Customer Loyalty ◽  
Measurement Model ◽  
Cross Sectional ◽  
Content Type ◽  
Customer Base ◽  
Quality Practices ◽  
Personal Interaction ◽  
Loyal Customer ◽  
Favorable Evaluation

Purpose Enhancing retailing service quality (RSQ) serves as a basic strategy for gaining competitive advantage in the retailing industry and enables retailers to make a loyal customer base. The purpose of this paper is to propose and empirically investigate a comprehensive mechanism for enhancing customer loyalty to retail stores via service quality practices. This study suggests information on retailers can be the antecedent of the RSQ and its dimensions, thereby proposing a comprehensive mechanism for enhancing customer loyalty to retailers. Design/methodology/approach The data were collected using questionnaire surveys from 2,375 customers of three main supermarkets in Sri Lanka. After testing the measurement model, two structural models were run to test hypotheses. Findings The findings showed that the RSQ positively influenced customer loyalty. From all the RSQ dimensions, the store’s physical aspects, personal interaction and policy had a significant influence on customer loyalty. The findings also demonstrated that information on retailers contributes to enhancing a customer’s favorable evaluation of the supermarket’s physical aspects, personal interaction and retailing policy. Research limitations/implications This study was conducted with supermarket customers in one country using the cross-sectional data. Hence, the model should be replicated among retail customers in other countries with the longitudinal data. Practical implications Practically, this study recommends to retailers which dimensions of service quality they need to focus to enhance customer loyalty to their business. The study furthermore recommends certain dimensions that need to be emphasized while retailers design their promotional and communication programs. Originality/value Information on retailers has been suggested as an antecedent for enhancing supermarkets’ service quality practices. Thus, this study proposes a comprehensive mechanism for enhancing customer loyalty to retailers via service quality practices.

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 Hubungan Mutu Pelayanan Dengan Loyalitas Pelanggan Jasa Pengiriman Paket Pada Kantor Pos Kota Depok

2016 ◽  
Vol 2 (2) ◽  
pp. 85
Author(s):  
Emma Rahmawati ◽  
Musa Hubeis
Keyword(s):  
Service Quality ◽  
Customer Service ◽  
Customer Loyalty ◽  
Descriptive Analysis ◽  
Secondary Data ◽  
Sampling Technique ◽  
Quality Level ◽  
Post Office ◽  
Loyal Customer ◽  
The Relationship

<p>fice were (1) To identify the relationship between service quality and customer loyalty; (2) To analyze the relationship strength between service quality and customer loyalty; (3) Assessing the service quality level by Depok City Post Office. The data collecting were primary and secondary data. Convenience sampling was chosen as sampling technique. The research analyze by descriptive analysis, Importance Performance Analysis (IPA), Range and Rank Spearman correlation test, and processed by Microsoft Excel 2007 and Software SPSS 17.0 version for Windows. The study by IPA showed the attribute spread out around all quadrant with the majority attributes placed on quadrant III, however the study will be focused on attributes placed Quadrant I: completly of information media, quick service and complaint service, which are the main important factors to improve. The research finding was proven the customer is categorize as loyal customer. The analysis of work attributes level showed reliability has no relation with loyality. The Relationship between Good Quality of Customer Service and Customer Packaging Delivery Service Loyalty in Depok City Post Office is strong showed by r = 0,277.</p>

scholarly journals The accounting treatment of credit card rewards programmes: a South African perspective (Part 1)

2017 ◽  
Vol 10 (1) ◽  
pp. 107-124
Author(s):  
Sophia Brink
Keyword(s):  
South African ◽  
Customer Loyalty ◽  
Credit Card ◽  
Accounting Standards ◽  
The United States ◽  
Financial Accounting ◽  
International Accounting Standards ◽  
Financial Accounting Standards Board ◽  
African Perspective ◽  
Loyalty Programme

Credit card rewards programmes are a common phenomenon in the South African market. On 1 July 2007 the International Accounting Standards Board (IASB) issued IFRIC 13 Customer Loyalty Programmes to give specific guidance to suppliers on the accounting treatment of customer loyalty programme transactions. Although credit card rewards programmes are specifically included in the scope of this Interpretation, in practice not all credit card rewards programmes currently account for award credits under the revenue deferral model (IFRIC 13). During May 2014 the IASB and the United States Financial Accounting Standards Board (FASB) published IFRS 15 Revenue from Contracts with Customers intended to replace six existing Standards and Interpretations, including IFRIC 13. Currently there is uncertainty whether or not a credit card rewards programme transaction falls within the scope of IFRS 15. Despite concerns raised the Boards decided against providing any additional guidance to credit card rewards programmes and indicated that they leave it up to management

scholarly journals Enhancing Customer Loyalty Through E-Banking Practices

2017 ◽  
Vol 8 (2) ◽  
pp. 45 ◽  
Author(s):  
Kajenthiran Konalingam ◽  
Umanakenan Ratnam ◽  
Achchuthan Sivapalan ◽  
Miresh Naveen
Keyword(s):  
Regression Analysis ◽  
Sri Lanka ◽  
Competitive Advantage ◽  
Multiple Regression Analysis ◽  
Multiple Regression ◽  
Customer Loyalty ◽  
Banking Industry ◽  
Relevant Literature ◽  
Customer Base ◽  
Loyal Customer

Enhancing customer loyalty serves as a basic strategy for gaining competitive advantage in the banking industry and enables bankers to make a loyal customer base. The purpose of this work is to propose and empirically investigate a comprehensive mechanism for enhancing customer loyalty to banks via e-banking practices. A questionnaire derived from previous studies and the relevant literature was completed by 472 bank customers in Jaffna city, Sri Lanka. Multiple regression analysis was performed to test hypotheses. The results indicated that customer loyalty was influenced by content & website layout, privacy & security, and accessibility. The findings of this paper contribute to previous research by adding to existing knowledge relating to e-banking practices and customer loyalty in banking industries.

scholarly journals Switching Costs and Customer Loyalty: A Review of literature

2021 ◽  
Vol 10 (05) ◽  
pp. 7-14
Author(s):  
Tawseef Ahmad Ganaie ◽  
Mushtaq Ahmad Bhat
Keyword(s):  
Customer Loyalty ◽  
Word Of Mouth ◽  
Switching Costs ◽  
Business Activity ◽  
Review Of Literature ◽  
Customer Base ◽  
Customer Lifetime ◽  
Loyal Customer ◽  
Lifetime Value ◽  
Free Word

Retaining customers in a competitive-value driven era is seen as a herculean task. Retaining customers for a longer time and reaping the benefit of customer lifetime value is seen as a major business activity that has a manifold influence on profitability, customer base, share of wallet, free word of mouth besides customer suggestions and feedback. In this direction, switching costs play an important role in influencing the customer loyalty. Switching cost acts as switching barrier which forces the customer to remain with the existing company and strengthens the customer-company longevity relationship. In view of the growing importance of switching costs and its influence on customer loyalty, this paper attempts to review switching costs and customer loyalty with a view to make switching costs barrier an effective tool to maintain a loyal customer base.

scholarly journals Two-Way Communication and Customer Loyalty

2018 ◽  
pp. p75
Author(s):  
Samuel G. Etuk
Keyword(s):  
Relationship Marketing ◽  
Customer Loyalty ◽  
Regression Coefficient ◽  
Positive Influence ◽  
Customer Relationship ◽  
Telecommunication Industry ◽  
Considerable Influence ◽  
Customer Base ◽  
Loyal Customer ◽  
The Relationship

The relationship between communication as a relationship marketing underpinning and customer loyalty in the telecommunication industry in Akwa Ibom State was examined using MTN, GLO, Etisalat and Airtel companies. The methodology followed was exploratory and quantitative in nature. Questionnaire responses from 365 customers of the four telecommunication vendors in Akwa Ibom State were used as data for the study. The data were analyzed using Simple Regression statistic. The results showed a regression coefficient of 0.714. Meaning that communication has positive influence on the vendor customer relationship and thus serving as a driver of customer loyalty. Based on the findings it was concluded that operators that are mindful of communication are likely to have loyal customers. On the basis of the findings, it is recommended that telecommunication vendors wishing to build a loyal customer base should enable open, sincere and frequent interaction as this has considerable influence on customer loyalty.

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.

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.

Functioning of the Fast Payment System in Russia

2021 ◽  
pp. 23-28
Author(s):  
A. Zverev ◽  
Viktoria Valerievna Mandron ◽  
A. Sereda
Keyword(s):  
Customer Service ◽  
Financial Services ◽  
Payment System ◽  
Financial Industry ◽  
Banking Services ◽  
Customer Base ◽  
Market Participants ◽  
New Information ◽  
Banking Business ◽  
Remote Interaction

Digital transformation is the main direction of development of the national financial industry. Traditional banking services are being transferred to online services, especially in the context of the rapid growth of e-commerce. The introduction of new information channels of remote interaction allows credit institutions to reduce their costs, improve the quality and speed of customer service, balance active and passive operations, expand the «line» of banking products and financial services, stabilize and expand the customer base. The development of the banking business based on the introduction of a fast payment system is becoming a necessity for all categories of retail and corporate clients. The creation and development of the infrastructure of the fast payment system is a priority project of the Bank of Russia for the development and expansion of non-cash payments. This project is aimed at developing the availability of financial services in remote regions of Russia and reduces the costs of market participants.

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