IDEAS home Printed from https://ideas.repec.org/a/sae/jjlobr/v10y2021i1p128-140.html
   My bibliography  Save this article

Building Store Equity: Role of Store Image, Consumer Satisfaction, and Store Loyalty in the Indian Retail Market

Author

Listed:
  • Rajesh Sharma
  • Joy Patra

Abstract

The Indian retail sector is poised for tremendous growth and thus provides ample opportunities for local and global retailers. Building store equity will not only be a challenge but also be a prerequisite for surviving in the highly competitive market. The objective of the current study is to understand the role of store image, consumer satisfaction, and store loyalty in building retail store equity in the Indian retail market. The study employed exploratory factor analysis for reducing the number of items and linear regression for hypothesis testing. A total of 210 actual patrons evaluated different retail stores. The empirical findings suggest that store image, consumer satisfaction, and store loyalty play a direct, positive, and significant role in building retail store equity in the Indian retail market. Store image was found to have the strongest impact on store loyalty, followed by customer satisfaction on store loyalty, customer satisfaction on store equity, and store loyalty on store equity. This study will add value to literature on store image, consumer satisfaction, store loyalty, and store equity. The study concludes with strategic implications, limitations, and directions for future research.

Suggested Citation

  • Rajesh Sharma & Joy Patra, 2021. "Building Store Equity: Role of Store Image, Consumer Satisfaction, and Store Loyalty in the Indian Retail Market," Jindal Journal of Business Research, , vol. 10(1), pages 128-140, June.
    • Handle: RePEc:sae:jjlobr:v:10:y:2021:i:1:p:128-140
    DOI: 10.1177/22786821211002631
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/22786821211002631
    Download Restriction: no
    File URL: https://libkey.io/10.1177/22786821211002631?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Babin, Barry J & Darden, William R & Griffin, Mitch, 1994. "Work and/or Fun: Measuring Hedonic and Utilitarian Shopping Value," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 20(4), pages 644-656, March.
    2. Bateson, John E G & Hui, Michael K, 1992. "The Ecological Validity of Photographic Slides and Videotapes in Simulating the Service Setting," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 19(2), pages 271-281, September.
    3. Brodie, Roderick J. & Whittome, James R.M. & Brush, Gregory J., 2009. "Investigating the service brand: A customer value perspective," Journal of Business Research, Elsevier, vol. 62(3), pages 345-355, March.
    4. Paramaporn Thaichon & Thu Nguyen Quach, 2015. "The relationship between service quality, satisfaction, trust, value, commitment and loyalty of Internet service providers' customers," Journal of Global Scholars of Marketing Science, Taylor & Francis Journals, vol. 25(4), pages 295-313, September.
    5. Michael Jary & Andrew Wileman, 1998. "Managing Retail Brands," Palgrave Macmillan Books, in: Susannah Hart & John Murphy (ed.), Brands, chapter 0, pages 152-160, Palgrave Macmillan.
    6. Jones, Michael A. & Reynolds, Kristy E. & Arnold, Mark J., 2006. "Hedonic and utilitarian shopping value: Investigating differential effects on retail outcomes," Journal of Business Research, Elsevier, vol. 59(9), pages 974-981, September.
    7. Jinfeng, Wu & Zhilong, Tian, 2009. "The impact of selected store image dimensions on retailer equity: Evidence from 10 Chinese hypermarkets," Journal of Retailing and Consumer Services, Elsevier, vol. 16(6), pages 486-494.
    8. Arnold, Mark J. & Reynolds, Kristy E. & Ponder, Nicole & Lueg, Jason E., 2005. "Customer delight in a retail context: investigating delightful and terrible shopping experiences," Journal of Business Research, Elsevier, vol. 58(8), pages 1132-1145, August.
    9. Juan Beristain, Jose & Zorrilla, Pilar, 2011. "The relationship between store image and store brand equity: A conceptual framework and evidence from hypermarkets," Journal of Retailing and Consumer Services, Elsevier, vol. 18(6), pages 562-574.
    10. Kasper, Hans, 1988. "On problem perception, dissatisfaction and brand loyalty," Journal of Economic Psychology, Elsevier, vol. 9(3), pages 387-397, September.
    11. Yoo, Boonghee & Donthu, Naveen, 2001. "Developing and validating a multidimensional consumer-based brand equity scale," Journal of Business Research, Elsevier, vol. 52(1), pages 1-14, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Madan Lal & Heena Kashyap, 2024. "Consumer Complaint Satisfaction and Customer Retention: A Study of Complaint Satisfaction in Electronic Industry," Jindal Journal of Business Research, , vol. 13(1), pages 82-99, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chi Zhang & Douglas W. Vorhies & Wenkai Zhou, 2023. "An integrated model of retail brand equity: the role of consumer shopping experience and shopping value," Journal of Brand Management, Palgrave Macmillan, vol. 30(5), pages 398-413, September.
    2. Beatriz Moliner-Velázquez & María Fuentes-Blasco & Irene Gil-Saura, 2019. "Effects of value and innovation on brand equity in retailing," Journal of Brand Management, Palgrave Macmillan, vol. 26(6), pages 658-674, November.
    3. Beatriz Moliner-Velázquez & Maria Fuentes-Blasco & David Servera-Francés & Irene Gil-Saura, 2019. "From retail innovation and image to loyalty: moderating effects of product type," Service Business, Springer;Pan-Pacific Business Association, vol. 13(1), pages 199-224, March.
    4. Willems, Kim, 2022. "Brand personality appeal in retailing: Comparing fashion- and grocery retailing," Journal of Retailing and Consumer Services, Elsevier, vol. 64(C).
    5. Fernando Oliveira Santini & Wagner Junior Ladeira & Claudio Hoffmann Sampaio & Diego Costa Pinto, 2018. "The brand experience extended model: a meta-analysis," Journal of Brand Management, Palgrave Macmillan, vol. 25(6), pages 519-535, November.
    6. Troiville, Julien & Hair, Joe F. & Cliquet, Gérard, 2019. "Definition, conceptualization and measurement of consumer-based retailer brand equity," Journal of Retailing and Consumer Services, Elsevier, vol. 50(C), pages 73-84.
    7. Slaton, Kelcie & Testa, Danielle & Bakhshian, Sonia & Fiore, Ann Marie, 2020. "The small, inventory free retail format: The impact on consumer-based brand equity and purchase behavior," Journal of Retailing and Consumer Services, Elsevier, vol. 57(C).
    8. Zhou, Joyce Xin & Arnold, Mark J. & Pereira, Arun & Yu, Jun, 2010. "Chinese consumer decision-making styles: A comparison between the coastal and inland regions," Journal of Business Research, Elsevier, vol. 63(1), pages 45-51, January.
    9. Li, Jie & Huddleston, Patricia & Minahan, Stella, 2021. "International retail format transfer: A comparison study of Australian and U.S. warehouse club members," Journal of Retailing and Consumer Services, Elsevier, vol. 59(C).
    10. Isabelle Collin-Lachaud & Mbaye Fall Diallo, 2021. "Smartphone use during shopping and store loyalty: The role of social influence," Post-Print hal-03156195, HAL.
    11. Shahzad Khalil & Mirza Ameen ul Haq, 2022. "Enhancing Retail Brand Equity through Consumption Value: The Mediating Effect of Brand Experience," iRASD Journal of Management, International Research Alliance for Sustainable Development (iRASD), vol. 4(1), pages 114-126, March.
    12. Swoboda, Bernhard & Weindel, Julia & Hälsig, Frank, 2016. "Predictors and effects of retail brand equity – A cross-sectoral analysis," Journal of Retailing and Consumer Services, Elsevier, vol. 31(C), pages 265-276.
    13. Murray, John & Elms, Jonathan & Teller, Christoph, 2017. "Examining the role of store design on consumers’ cross-sectional perceptions of retail brand loyalty," Journal of Retailing and Consumer Services, Elsevier, vol. 38(C), pages 147-156.
    14. Londoño, Juan Carlos & Elms, Jonathan & Davies, Keri, 2016. "Conceptualising and measuring consumer-based brand–retailer–channel equity," Journal of Retailing and Consumer Services, Elsevier, vol. 29(C), pages 70-81.
    15. Atulkar, Sunil & Kesari, Bikrant, 2017. "Satisfaction, loyalty and repatronage intentions: Role of hedonic shopping values," Journal of Retailing and Consumer Services, Elsevier, vol. 39(C), pages 23-34.
    16. Pappu, Ravi & Quester, Pascale, 2021. "A commentary on “conceptualising and measuring Consumer-Based Brand–Retailer–Channel Equityâ€," Journal of Retailing and Consumer Services, Elsevier, vol. 58(C).
    17. Lim, Junsang & Beatty, Sharon E., 2011. "Factors affecting couples' decisions to jointly shop," Journal of Business Research, Elsevier, vol. 64(7), pages 774-781, July.
    18. Carmen-Maria Albrecht & Stefan Hattula & Donald R. Lehmann, 2017. "The relationship between consumer shopping stress and purchase abandonment in task-oriented and recreation-oriented consumers," Journal of the Academy of Marketing Science, Springer, vol. 45(5), pages 720-740, September.
    19. Anselmsson, Johan & Burt, Steve & Tunca, Burak, 2017. "An integrated retailer image and brand equity framework: Re-examining, extending, and restructuring retailer brand equity," Journal of Retailing and Consumer Services, Elsevier, vol. 38(C), pages 194-203.
    20. Se Ran Yoo & Suk Won Lee & Hyeon Mo Jeon, 2020. "The Role of Customer Experience, Food Healthiness, and Value for Revisit Intention in GROCERANT," Sustainability, MDPI, vol. 12(6), pages 1-14, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:jjlobr:v:10:y:2021:i:1:p:128-140. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.