Impact of Relational Bonds on Retailer Equity
Abstract
The shift towards retail relationships emphasizes on increasing sales and reduces brand switching thereby increasing retailer equity of the potential customers (Berry & Gresham, 1986; Bendapudi & Berry, 1997; Noordhoff et al., 2004). On the other hand, Davis (1997) signalled that retail relationships are fuelled by reduced customer loyalty and escalating consumer demands for value (De Wulf  & Odekerken-Schröder, 2003; Ibrahim & Najjar, 2008). In this context and given the hypercompetitive scenario of Indian Retail market an empirical research to identify the relationship bonds and their impact on retailer equity has a potential to suggest strategies to be adopted by retailers.
In this research, the relationship bonds are defined as the investments by the firm in the form relational benefits to bind the customers with firm and measured across financial, social and structural bonds (Smith, 1998; Berry & Parasuraman,1991; Lin et al.,2003; Wang, et.al, 2006). Retailer equity is defined as a four-dimensional construct comprising: retailer awareness, retailer associations, retailer perceived quality, and retailer loyalty (Pappu & Quester, 2006). The customer impression across these parameters was collected from 300 samples visiting major apparel retail stores in Coimbatore using aided questionnaire. The impact of relational bonds on retailer equity model was arrived using a component based SEM analysis.
Empirical model highlights that structural bonds have direct positive significant impact on retailer equity. Financial and social bonds have positive significant impact on structural bonds but do not have significant impact on retailer equity directly. The managerial implications of the empirical model highlights that the effective utilization of structural bonds will improve the retailers’ brand value.
Keywords: Relational bonds, Retailer equity, PLS, Retailing, Relationship marketing, Retailer Loyalty, Structural Bonds, Social Bonds, Financial Bonds.
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