- مبلغ: ۸۶,۰۰۰ تومان
- مبلغ: ۹۱,۰۰۰ تومان
This study examines the differential effects of the benefits customers receive from a loyalty program (LP) on satisfaction with the LP, trust in the LP, and store loyalty for high- and low-end fashion retailers. With survey data from U.S. LP subscribers, the study tests the relationships using multiple regressions and analysis of covariance. The results show that symbolic benefits are more important for high-end fashion store consumers' satisfaction with the LP; conversely, utilitarian benefits increase consumers' satisfaction with the LP more in low-end fashion retailing, whereas hedonic benefits increase consumers' satisfaction with the LP in both types of retailers. All benefits in both types of retailers affect trust in the LP. Finally, satisfaction with and trust in the LP are important drivers of loyalty to the retailer. The findings have important implications on how managers of high- and lowend fashion retailing can effectively design their LP rewards to maximize loyalty.
The study findings lend support to the notion that the effectiveness of LPs is equally important in both standard and luxury fashion retailing settings. In particular, as hypothesized, consumers perceive hedonic and symbolic benefits of LPs as more important in high-end than low-end fashion retailers. In contrast, they perceive utilitarian benefits as more important in low-end than high-end fashion department stores. These findings correspond to previous work in luxury products that highlights the importance of psychological benefits in luxury consumption (Hennigs et al., 2012; Wiedmann et al., 2009). LP benefits should be aligned with the main benefits consumers expect from luxury products or services. That is, to increase satisfaction and trust, LP benefits should be congruent with the main services and product offerings of high-end fashion retailers. However, while hedonic benefits fostered customers' satisfaction with LPs in both high- and low-end fashion retailers, the effects of utilitarian and symbolic benefits on satisfaction varied. Symbolic benefits increased satisfaction with the LP of patrons of the high-end fashion retailer, while utilitarian benefits appealed more to patrons of the low-end fashion retailer. This study confirms prior research findings that for luxury consumers, the monetary value of an offering is less important than the hedonic and symbolic value (e.g., Hennigs et al., 2012; Shukla & Purani, 2012). This finding indicates that LP benefits should be compatible to the consumption goals and needs of customers. Finally, this study addresses the important issue of consumers' trust in LPs, especially in light of recent consumer concerns with LPs after highly publicized privacy data leaks. Building on relationship investment theory, the study shows that the right benefits may make LPs more trustworthy, which in turn may alleviate consumer anxieties about privacy protection of the data stored in LP platforms. Increasing consumers' trust that their personal information is being properly used only to provide benefits and enhance the relationships is critical for the viability and effectiveness of the LP. This research shows that consumers' positive appraisal of all three LP benefits (hedonic, symbolic, and utilitarian) increases trust in the LP for both types of fashion department stores. Of note, hedonic benefits enhanced trust in the LP more than the other two benefits. The LP member's trust in the program increases when the retailer uses the customer's personal information to personalize hedonic benefits of LPs. For example, LPs that capture date of birth as a requirement to enroll could send a surprise gift or a personal message on customers' birthdays.