Effects of relationship investment and value perception on customer loyalty

This study investigated the effects of relationship investment and value perception on customer loyalty. Based on a sample of respondents from the data base of customers of the loyalty programs of an Australian apparel retailer this study found significant positive relationship between the value perception of a loyalty program and customer loyalty. Perceived relationship investment did not have significant effect on customer loyalty. The study also found that program loyalty mediates the relationship between value perception and customer loyalty suggesting that implementing loyalty programs is useful for encouraging customer loyalty