Variety Seeking Behaviour as a Measure of Enduring Loyalty

Sheorey, Pratima; Joshi, Gauri; Kulkarni, Rachana

doi:10.1016/j.sbspro.2014.04.192

Cited by 9 publications

(4 citation statements)

References 41 publications

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“…Correspondingly, satisfying them is the central route to customer retention. Meanwhile, private banks, as the second-best choice, are likely selected by customers who have a higher tendency for variety-seeking behaviour (Sheorey et al 2014 ; Shirin 2011 ). Those customers tend to look for diverse banking experiences rather than become loyal to a specific bank even when their financial needs are satisfied.…”

Section: Discussion and Managerial Implicationmentioning

confidence: 99%

Linking psychological needs, perceived financial well-being and loyalty: the role of commercial banks

et al. 2022

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This research examines the role of commercial banks in influencing customers’ perceived financial well-being under the basic psychological need theory and the impact of customers’ perception of financial health on their bank loyalty. We firstly conducted in-depth interviews to explore bank-related factors that could help satisfy the needs for autonomy, relatedness, and competence that a bank customer may have in their financial life. A structural equation model linking personalization of service offerings, interpersonal adaptive behaviour, communication, service quality, customer satisfaction, perceived financial well-being and customer loyalty is tested using data collected from 391 Vietnamese individual bank customers. The results indicate that the personalization of service offerings, interpersonal adaptive behaviour, and service quality could help enhance financial well-being among bank customers. This could be explained by the impacts of these factors in either satisfying customers’ psychological needs or enhancing overall customer satisfaction with banking services. Further, we also find that financial well-being not only positively affects customer loyalty but also moderates the relationship between customer satisfaction and bank loyalty. This research provides crucial strategies for commercial banks to improve financial well-being among their customers and hence, further increase customer retention and lifetime value. Supplementary Information The online version contains supplementary material available at 10.1057/s41264-022-00170-z.

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Section: Discussion and Managerial Implicationmentioning

confidence: 99%

Linking psychological needs, perceived financial well-being and loyalty: the role of commercial banks

et al. 2022

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“…This variety-seeking behaviour may impact the loyalty of the consumers and also affects their social presence on a platform. In this context, Sheorey et al (2014) identified that this variety-seeking behaviour may significantly impact social presence and loyalty and may vary according to demographic factors such as age, income, and experience. There is a need to understand the relationship between loyalty, trust, and social presence in more detail, as there is a large number of studies that have interlinked these factors in analysing various features of social media and user behaviour.…”

Section: H1: Social Presence Of Interaction Has a Positive Effect On ...mentioning

confidence: 99%

The role of social presence and trust on customer loyalty

Attar

Amidi

Hajli

2022

BFJ

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PurposeE-commerce and social media technologies can significantly benefit the food and beverage industry by reducing costs, streamlining supply activities, and, most importantly, engaging users in active interaction and enhancing social presence. This research aims to propose a model to examine the role of trust and social presence on loyalty in the food and beverage industry. Moreover, the mediating role of trust is the link between social presence and loyalty examined in this study.Design/methodology/approachA survey has been conducted to examine the structural model. The research model is tested using structural equation modelling (PLS-SEM).FindingsThe result indicated the effect of Social presence and Trust in social media on Customer loyalty in the context of online shopping. Our finding contributes remarkable insights into the food and beverage industry, particularly in the COVID-19 era, as more consumers buy through e-commerce platforms.Originality/valueThis study expands the understanding of the role of the managers of social commerce websites in maintaining customer loyalty. Hence, the social commerce site managers can use this finding to develop strategies for building customer trust and, ultimately, customer loyalty.

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“…Also, loyalty programs and price discounts/gifts can keep the low variety-seeking consumers engage (Sheorey et al , 2014). However, it is essential to note here that managers should first provide a satisfactory experience to build a long term relationship.…”

Section: Managerial Implicationsmentioning

confidence: 99%

Should we engage variety seeking customers?

Gupta

Pandey

2021

JABS

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Purpose The study aims to examine the moderating role of variety-seeking behaviour between customer engagement and its antecedents (customer satisfaction and customer value). Further, this study also tests the existence of the value-satisfaction-engagement behaviour chain. Design/methodology/approach The perception of 262 respondents was used to examine the hypothesis using the structural equation modelling approach. Findings The moderation effect of variety-seeking behaviour between customer satisfaction and customer engagement was found to be significant. Also, customer satisfaction fully mediated the relationship between perceived value and customer engagement, hence, empirically validating the value-satisfaction-engagement model in the retailing context. Research limitations/implications The findings draw managers' attention towards the segment of consumers who are more likely to be engaged, thus helping managers develop a more efficient and focussed strategy to achieve customer engagement. The result also suggests that variety-seeking buyers may not get engaged even after satisfaction. Originality/value This paper is among the first to empirically test the moderating role of variety-seeking behaviour to achieve customer engagement.

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Variety Seeking Behaviour as a Measure of Enduring Loyalty

Cited by 9 publications

References 41 publications

Linking psychological needs, perceived financial well-being and loyalty: the role of commercial banks

Linking psychological needs, perceived financial well-being and loyalty: the role of commercial banks

The role of social presence and trust on customer loyalty

Should we engage variety seeking customers?

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