Abstract
Previous research has investigated the determinants and consequences of customer loyalty, but in banking, a critical but often neglected measure is the customer’s ‘share of wallet’ (SOW). Since some customers are more active in either investments or loans, the study, based on a survey of 1,924 retail banking customers, models SOW separately in terms of deposits and debts/loans. The results suggest that approximately 25% of the variance in share of wallet can be predicted, in particular by demographic factors such as age, income and a customer’s location. The typical client with growth potential for deposits is found to be male, aged 35-65, has a high income and a university degree, and lives in a city area. In contrast, factors such as satisfaction, attitude and service quality were not significant predictors of SOW. Implications for bankers and researchers are discussed.
| Original language | English |
|---|---|
| Title of host publication | ANZMAC 2004 |
| Subtitle of host publication | proceedings : marketing accountabilities and responsibilities |
| Place of Publication | Wellington, New Zealand |
| Publisher | ANZMAC |
| Pages | 1-6 |
| Number of pages | 6 |
| ISBN (Print) | 0475222151 |
| Publication status | Published - 2004 |
| Event | Australian and New Zealand Marketing Academy Conference (2004) - Wellington, New Zealand Duration: 29 Nov 2004 → 1 Dec 2004 |
Conference
| Conference | Australian and New Zealand Marketing Academy Conference (2004) |
|---|---|
| City | Wellington, New Zealand |
| Period | 29/11/04 → 1/12/04 |
Keywords
- share of wallet
- customer loyalty
- retail banking