Customer Retention: A Literature Review

Abstract

Customer retention is vital for businesses with much research literature now available and in most cases, is regarded as an indicator of acquisition performance, but factors influencing it have rarely been studied in the serial acquirer context. Customer experience has drawn a great deal of attention from scholars and business practitioners in the past few decades. Successfully designing and providing customers with an optimal experience has become a central priority for marketing theory and practice. Customer experience plays a key role for firms in creating a sustainable competitive advantage and building good customer relationships The objective of this research is to determine the factors associated with customer retention. I presented a literature study using systematic literature review of relevant publications and as a result of this process, 19 articles are included and then examined the bibliographical references to check the validity of the inquiry and to avoid any potential omissions. I identify several variables that affect by customer retention.

Promoting perceived service quality and organisational performance through customer retention strategies: the moderating role of ICT

“…Subrahmanyan and Arif (2022) claim that this further emphasises that customer retention is not only about giving customers what they expect in order to retain them but also about exceeding their desires. Customer retention, according to Artha et al. (2022), is the tendency of customers to stick with their service suppliers.…”

“…Subrahmanyan and Arif (2022) claim that this further emphasises that customer retention is not only about giving customers what they expect in order to retain them but also about exceeding their desires. Customer retention, according to Artha et al (2022), is the tendency of customers to stick with their service suppliers. The current study defines customer retention as purchasing the same product or service many times, leading to economic benefit and gaining a competitive advantage in the market.…”

Grains of Trust: Nurturing Repurchase Intentions With Expertise and Likeability in Rice Sales

“…It is clear from empirical research that SMEs stand to gain a great deal by understanding and successfully addressing factors including perceived benefits, service quality, and overall customer experience that influence the intention to repurchase. Research also suggests that positive experiences customers have with salespeople and the creation of a nice shopping environment impact their propensity to return (Artha et al, 2022;Petrescu, 2021;. According to the research, as SMEs strive to build a devoted client base in competitive environments, it is strategically important to identify and address the elements of repurchase intention in order to forge long-lasting relationships and foster corporate success (Jasin et al, 2022;Rozamuri et al, 2022).…”