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Store Loyalty: Path Analysis of Its Determinants for Five Retailer Industries

배근호|홍한국|김철민
산업개발연구소 (kyungsung university)|2013.03|산업혁신연구 (Journal of Industrial Innovation)|제29권 제1호|pp. 131-175|DOI 10.22793/indinn.2013.29.1.006

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키워드

path analysis고객만족전환비용고객충성도customer satisfactioncustomer loyalty경로분석점포충성도switching costsstore loyalty

초록

Despite growing perceived significance of customer loyalty among retailers, its current understanding seems rather limited. Previous studies rely on customer satisfaction as the main factor of customer loyalty and retention, while there are evidences of other significant factors. Switching costs or switching barriers are suggested as one of such factors. Many studies try to relate factual attributes of customers to loyalty without paying attention to psychological basis behind loyalty. Customer loyalty is a more complex behavioral concept than what can be explained or predicted by socioeconomic and geographic variables. A more comprehensive conceptual model addressing fundamental psychological aspects of repeated buying tendency of consumers needs to be devised and validated for understanding of consumer loyalty. There exists abundant literature on brand loyalty, but relatively few studies on store loyalty are available. Even though both brand loyalty and store loyalty are closely related, they are of different objects and thus their key antecedents do not necessarily agree. This study addresses how two key mediating variables—store satisfaction and switching costs—as influenced by their antecedents enhance store loyalty. The hypothesized relationships are empirically tested by path analysis, and the results confirm that store loyalty is positively influenced by the key mediating variables and the antecedents are related to the mediating variables. Especially, our research clarifies the impact of switching costs on the consumer store loyalty.

Abstract

Despite growing perceived significance of customer loyalty among retailers, its current understanding seems rather limited. Previous studies rely on customer satisfaction as the main factor of customer loyalty and retention, while there are evidences of other significant factors. Switching costs or switching barriers are suggested as one of such factors. Many studies try to relate factual attributes of customers to loyalty without paying attention to psychological basis behind loyalty. Customer loyalty is a more complex behavioral concept than what can be explained or predicted by socioeconomic and geographic variables. A more comprehensive conceptual model addressing fundamental psychological aspects of repeated buying tendency of consumers needs to be devised and validated for understanding of consumer loyalty. There exists abundant literature on brand loyalty, but relatively few studies on store loyalty are available. Even though both brand loyalty and store loyalty are closely related, they are of different objects and thus their key antecedents do not necessarily agree. This study addresses how two key mediating variables—store satisfaction and switching costs—as influenced by their antecedents enhance store loyalty. The hypothesized relationships are empirically tested by path analysis, and the results confirm that store loyalty is positively influenced by the key mediating variables and the antecedents are related to the mediating variables. Especially, our research clarifies the impact of switching costs on the consumer store loyalty.

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