Millennials, COVID-19, and its impact on perception: the case of the banking system
by Marwan Azouri; Sylvain Senechal
International Journal of Work Innovation (IJWI), Vol. 3, No. 3, 2022

Abstract: Customer loyalty strategies of retailing banks are facing growing uncertainty among Millennials, with high attrition rates after only a few years. Besides, the COVID-19 pandemic and its social and economic consequences are severely hitting Millennials, and the retail banking sector seems to be frontline with people in turbulent times. In this paper we analyse the antecedents of customer loyalty intentions and switching intentions of people aged 18-25 towards their banks, using the same model before the crisis and 15 months after the beginning of the crisis. The studies are validated and compared using PLS-SEM, and show that trust and commitment still play a mediating role between classic antecedents and simple loyalty intentions. However, the influence of trust, commitment and loyalty intentions to limit switching intentions is fading through time, as if the COVID crisis contributed to an accelerated deterioration in the structure of usual relationships between constructs linked to loyalty. The explosion of switching intentions is analysed and relativised, and we provide operational suggestions for loyalty strategies addressing Millennials.

Online publication date: Tue, 13-Dec-2022

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Work Innovation (IJWI):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com