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A cross‐national validation of a new retail customer equity model
Author(s) -
Yoon Sungjoon,
Oh JongChul
Publication year - 2016
Publication title -
international journal of consumer studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.775
H-Index - 71
eISSN - 1470-6431
pISSN - 1470-6423
DOI - 10.1111/ijcs.12289
Subject(s) - brand equity , equity theory , business , customer equity , equity capital markets , equity (law) , equity risk , private equity fund , equity ratio , marketing , advertising , economics , loyalty business model , finance , private equity , microeconomics , political science , service quality , law , service (business) , economic justice
This study aims to examine retail customers of China and Korea with a view to understanding the differences in the effects of customer equity on perceived store loyalty. We built a modified model of retail customer equity incorporating three drivers of retail customer equity (experience equity, brand equity and relationship equity), and further substantiate the relationships among the three equity drivers. For this purpose, we measured the customer equity of large scale discount stores located in China and Korea. The result shows that experience equity and brand equity significantly influence customer loyalty, whereas relationship equity does not. The relationships among the three drivers of customer equity revealed that experience equity significantly affects both brand and relationship equities, but relationship equity does not significantly affect brand equity. Based on country level analysis, on Korean side the experience equity influences relationship equity, brand equity and store loyalty, whereas on Chinese side, experience equity influences relationship equity and brand equity,