Unlocking the potential of loyalty programs in reference to customer experience with digital wallets

Sustainable growth and development can be the most important lesson that banks have learned in recent decades. Banks would gain many benefits, win the competition and develop sustainably if there have been more and more loyal customers. Customer satisfaction will help build customer loyalty. In order to have loyal customers, service quality must be good. Quality customer service of the bank is to ensure customer satisfaction and take their needs into consideration to improve service quality. High customer service quality will generate value not only to meet customer needs but also the expectations of customers and make banks more prominent than their competitors. This study identifies factors that affect customer satisfaction with the service quality at Vietnamese retail banks. The results are obtained by qualitative and quantitative method. The research model with a questionnaire consisting of 22 variables, 5 scales for a survey of 554 customers, is identified and developed through interviews with experts and group discussions. The findings show that customer satisfaction with the service quality at retail banks is influenced by “reliability”, “responsiveness”, “empathy”, “security”, and “tangibles”. Based on the findings, solutions for improving service quality are proposed for Vietnamese retail banks.

The study was conducted by collecting the data from 608 customers of migrant retailers working in the retail industry of Pretoria West in South Africa in order to identify socioeconomic factors that affect customer loyalty. Data was collected from eligible respondents by using a pre-tested, validated and standardised questionnaire of study that was self-administered by respondents. The study found that about 69% of customers were loyal to their retailers. About 68% of customers had a favorable attitude towards their retailers. About 68% of retailers used appropriate promotional measures for marketing their goods to potential customers. About 69% of retailers provided their customers with satisfactory quality of services. About 67% of customers were loyal to their retailers’ brands. Factor analysis was used for extracting 3 influential predictors of customer loyalty. These factors were entrepreneurial skills, marketing skills, and selling price. The percentage of variance explained by the 3 extracted factors was equal to 92.58%.

The online food delivery market in India perseveres to grow at a sustained pace. The business has unique dynamics and challenges with the spike in orders during weekends, meeting delivery schedules during peak demand, offering deep discounts to address wavering customer loyalty, reducing cash burns, and managing food quality inconsistency. In contrast, the fast-paced life and the rise of millennials in the workforce is likely to assure a promising future for the food aggregators. The above backdrop has led the researchers to pursue this study. An empirical study was carried out to explore the consumption occasion and the antecedents of online food ordering in the select cities in Karnataka, India. The data was collected from 385 respondents through telephonic and mail survey using a structured questionnaire. The responses were analyzed using exploratory factor analysis and multiple regression. The result of the study indicated a positive association between the constructs ‘buying motives’, ‘aggregator attractiveness’, and customer satisfaction. The variation in customers` satisfaction is largely attributable to the convenience of order placing, food quality, availability of food and restaurant reviews, offers and discounts, faster home delivery, and the wide choice of restaurants listed on the aggregator’s website. Additionally, the aggregator attractiveness showed a higher impact on customer satisfaction as compared to buying motives.