FACTORS AFFECTING CONSUMER LOYALTY IN INDEPENDENT BOOKSTORES: HOW WELL ARE CUSTOMER NEEDS BEING MET? A CROSS-GENERATIONAL CASE STUDY

ABSTRACT

The bookselling industry has been significantly affected by the global recession of 2008 and the rise of e-commerce conglomerates. Thousands of small businesses have been wiped out by fast-paced changes in the business landscape. Customer loyalty can be described as a significant factor in measuring a company's success. These challenges have an ongoing effect on the consumer behaviour of different generations. This study was conducted involving loyalty card holders of an independent bookstore in Cyprus to examine how customer loyalty is affected by the online and physical presence of the company across generations, using an online questionnaire. The study findings showed that the online presence of a company is more important to Generation Z and Millennials than it is to Generation X, Baby Boomers, and the Silent Generation. The physical presence of a company is equally important to customers of all ages. The ability of an SME to improve on issues set forth by loyal customers and continue offering what they deem important is the reason this study was done. No similar studies have been conducted for the Cypriot marketplace. This case study has value for practitioners and academics alike in the field of consumer loyalty, especially in relation to COVID-19. This 'forced' use of technology has rapidly changed the way we conduct business in so many fields. Changes in work design in different sectors, both in services and products, has brought the need for quick adaptation to the new environment.