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Effects of Retail Innovation and Image on “Value-Satisfaction-Loyalty” Chain

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Marketing at the Confluence between Entertainment and Analytics

Abstract

There has been a particular focus on research into the links between value, satisfaction, and loyalty in services in recent years. In this context, we have selected image as a key strategic retailing tool and retail innovation because it is a new line of investigation with interesting challenges. This work deals with the study of these two antecedents in the “value→satisfaction→loyalty” chain. We approach the individual perspective considering the self-oriented values of Holbrook (Consumer value. A framework for analysis and research. Routledge, London, 1999) as an appropriate typology for research into retailing experiences. Therefore we aim to analyze the effect of image and innovation on the values of excellence, efficiency, entertainment, and aesthetics, how these values influence satisfaction, and to what extent satisfaction impacts loyalty. On a sample of 820 retail customers of grocery, clothing, furniture, and electronics stores and using SEM methodology, the results show direct, positive, and significant effects on all relationships, except in the “innovation→efficiency” link. Specifically, store image is more important than innovation in the value process, and entertainment is the value that most influences satisfaction. Practical implications for retail managers and further research are presented.

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Notes

  1. 1.

    Excellence or quality (extrinsic and reactive value) is the assessment of the reactive potential capacity of an object or experience to serve as means to achieve a personal goal. Efficiency or convenience (extrinsic and active value) results from the active use of an experience as a means to achieve self-oriented purpose. Entertainment or play (intrinsic and active value) is the value resulting from an active manipulation of the offer being considered as a source of pleasure. And aesthetics (intrinsic and reactive value) refers to a passive and personal appreciation of the beauty of the object or place of consumption.

  2. 2.

    http://www.bestglobalbrands.com/2014/ranking/

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Authors and Affiliations

  1. Universidad de Valencia, Valencia, Spain

    Beatriz Moliner-Velázquez & Irene Gil-Saura

  2. Universidad Pablo de Olavide, Sevilla, Spain

    María Fuentes-Blasco

  3. Universidad Católica de Valencia, Valencia, Spain

    David Servera-Francés

Authors
  1. Beatriz Moliner-Velázquez
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  2. María Fuentes-Blasco
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  3. David Servera-Francés
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  4. Irene Gil-Saura
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Corresponding author

Correspondence to Beatriz Moliner-Velázquez .

Editor information

Editors and Affiliations

  1. Marketing Department, IESEG School of Management (LEM-CNRS), Lille, France

    Patricia Rossi

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Moliner-Velázquez, B., Fuentes-Blasco, M., Servera-Francés, D., Gil-Saura, I. (2017). Effects of Retail Innovation and Image on “Value-Satisfaction-Loyalty” Chain. In: Rossi, P. (eds) Marketing at the Confluence between Entertainment and Analytics. Developments in Marketing Science: Proceedings of the Academy of Marketing Science. Springer, Cham. https://doi.org/10.1007/978-3-319-47331-4_52

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