Retail Loyalty Programs in Malaysia: The Relationship of Equity, Value, Satisfaction, Trust, and Loyalty among Cardholders
Retail Loyalty Programs in Malaysia: The Relationship of Equity, Value, Satisfaction, Trust, and Loyalty among Cardholders

Summary/Abstract: This study examines loyalty programs in Malaysia in terms of perceived equity, value, program satisfaction, program trust, and store loyalty. A total of 400 questionnaires were collected from cardholders in Klang Valley, Malaysia. The hypotheses were based on social exchange and equity theories. The structural equation model that assessed the relationship between the proposed variables was tested using AMOS 6.0. The findings revealed that perceived equity and perceived value of the loyalty program significantly influence program satisfaction and trust. Program trust was the most important predictor of store loyalty. Limitations of the study and recommendations for future research are discussed.

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