The Framework of Loyalty and Customer Satisfaction with Perceived value and Omni-channel Integration Quality as Drivers in Banking Sector of Pakistan

Abstract

Technological advancement and digitalization bring drastic transformations in the business market. This study intends to recognize the factors that influence customer loyalty and enhance the literature relevant to the evolving topic of Omni-channel which provides a seamless experience to consumers among all channels. This study empirically investigates the association among the Omni-channel “integration quality, perceived value, customer satisfaction & customer loyalty” in the Pakistani banking segment. To collect the data, a quantitative study was accompanied. The online surveys were generated on google forms filled out by the customer and some were distributed by hand. 233 questionnaires out of 250 were used to perform the analysis, and 17 questionnaires were excluded due to incomplete or missing data. SPSS 21 was used to perform Cronbach alpha & regression analysis. The result shows that loyalty & satisfaction are significantly influenced by the Integration quality, and a significant positive association of Perceived Value with satisfaction but shows insignificant relation with loyalty. Moreover, by enhancing customer satisfaction loyalty can be increased in the banking segment also showing significant results, and high-quality integration enhances the Perceived Value. while examining the given framework outcomes, the Pakistani bank's manager might be able to use the Omni-channel strategy in the banking sector favorably & recognize its influence on customers as well.

Causal Factors of Customer Loyalty in Sri Lankan Banks

“…Furthermore, (Mishra, 2022) demonstrated that corporate communication, a construct intimately linked to corporate image, directly positively affects customer loyalty. Consequently, constructing a robust corporate image constitutes an essential prerequisite for establishing and preserving customer loyalty within the banking industry (Kanwal et al, 2022;Mariska & Khasanah, 2022). The factors elucidated in the literature engender salient practical implications for banking.…”

“…A sizable body of scholarly work has examined various determinants of customer loyalty within the banking sector across diverse international contexts (Abbasi et al, 2011;Albarq, 2023;Kanwal et al, 2022Kanwal et al, )et al, 2022. Key loyalty antecedents elucidated within mainstream academic discourse encompass an array of factors, including but not limited to, perceived service quality, customer satisfaction, corporate image, switching costs, trust and perceived value (Chaudhuri & Holbrook, 2001;Žabkar et al, 2010.…”

“…This review will cover several key topics, including customer loyalty, perceived quality, perceived value, customer satisfaction, trust, switching costs, and corporate image. Each factor uniquely shapes customer loyalty and has been the subject of extensive research and debate (Kanwal et al, 2022;Mishra, 2022). Next section presents establishing the research hypotheses.…”

Crafting the Customer’ Positive Affect Experience and Loyalty towards the Omni-channel Banking Sector in Pakistan: A Two-staged Classical-SEM and Artificial Neural Network (ANN) Approach

“…However, despite the increased convenience and accessibility, a prevailing challenge is the apparent low level of customer positive affect experience and customer loyalty. This issue poses a critical concern for the sustainability and growth of banks operating in the omnichannel landscape (Kanwal, Arshad, Shahid, & Gul, 2022). Numerous indicators point to low customer loyalty and customer'positive experience in the omnichannel banking sector (Mainardes, de Moura Rosa, & Nossa, 2020).…”