Effect of Employees’ Commitment on Consumer Repeat Purchase: A Cursory Look at Selected Money Banks in Lagos

Abiaziem, Fortune Ugochukwu (), Arije, Kazeem Damola and Ayo, Mofoluwake, F.
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Abiaziem, Fortune Ugochukwu: Department of Marketing, Postal: The Federal Polytechnic Ilaro, Ogun State, Nigeria., ,, https://www.afarng.org/mjms/
Arije, Kazeem Damola: Department of Banking and Finance, Postal: The Federal Polytechnic, Ilaro, Ogun State., https://www.afarng.org/mjms/
Ayo, Mofoluwake, F.: Departement of Management and Accounting, Postal: Lead City University, Ibadan.,, https://www.afarng.org/mjms/

Multidisciplinary Journal of Management Sciences, 2021, vol. 3, issue 2, 54-63

Abstract: This study focused on the effect of employees’ commitment on consumer repeat purchase with reference to three banks (Access, Union and GTBank) in Lagos. The narrative has shifted from transaction-based model to relationship-based to curtail customer attrition. The objectives were to determine the significant influence of commitment, empathy and trust on consumer repeat purchase. Survey research design was used by the researchers. The population of the study is 19.2m customers of the banks according to www.relbanks.com, (8mGTB, 7.7m-Union Bank and 3,5m- Access bank). Data were collected via online questionnaire using Likert 6 points scale. (SD, D, PD, PA, A and SA). Sample size of 384 using Krejcie and Morgan sample size table. Simple random sampling technique was adopted based on first come first served. To avoid respondents’ biases.38 online respondents of customers of the three banks in Ilaro and Papalanto in Ogun State drawn from several online platforms were taken and analyzed. This represents about 10% of the sample size to ascertain the reliability and validity of the research instrument using Cronbach Alpha model. Data were analyzed with the use of frequency tables while hypotheses were tested using Simple Linear Regression Analysis with the aid of (SPSS -v23). The findings revealed that all the independent variables are significant with p-values less than the significance level of 5%. However, Trust had more effect on consumer repeat purchase, followed by empathy and commitment. Conclusively, the researchers asserted that employees’ commitment, empathy and trust go a long way in attracting and retaining customers in the banks within the localities under review. The researchers concluded that the management of the banks should lay more emphasis on staff welfare, train them on how to handle irate customers and consolidate on background checks of their employees to sustain the trust and the confidence level.

Keywords: Banking; Commitment; Empathy; Trust; Repeat purchase (search for similar items in EconPapers)
Date: 2021
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