Extant literature on brand equity in the context of the retail store is limited. This paper responds to calls for more research in this area by examining, though a quantitative design, shoppers’ perceptions of store equity, loyalty and satisfaction. Responses from 300 Spanish shoppers, in three retail contexts, were captured. Findings of CHAID analysis identify three distinct segments of shoppers. This research contributes to identifying perceived value and store image as the most relevant factors for differentiating retail customers in terms of their store equity perceptions. For theorists, this study presents a better explanation of store choice by segmenting shoppers based on perceived store equity. Management implications include the need to develop economic, functional, emotional and symbolic value propositions in view of the influence of perceived value and image on store equity creation and, ultimately, satisfaction and loyalty.
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For the sake of brevity, results for the exploratory factor analysis are omitted, but are available from the authors upon request.
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The authors are very grateful for the support of the projects ECO2013-43353-R and ECO2016-76553-R of the Spanish Ministry of Education and Science.
Conflict of interest
On behalf of all authors, the corresponding author states that there is no conflict of interest.
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Gil Saura, I., Berenguer-Contrí, G., Ruiz Molina, M.E. et al. Customer segmentation based on store equity: What explains customer store preference?. J Brand Manag 24, 546–561 (2017). https://doi.org/10.1057/s41262-017-0049-1
- Retail brand equity
- Store image
- Perceived value