An Integrated Model of Customer Experience, Perceived Value, Satisfaction, and Loyalty in Electronic Stores

The main problem of electronic-stores is to resolve the obstacles of visitors as potential customers. In this paper the relationship between the experience of online customers, perceived value, satisfaction, and the loyalty is investigated. The main hypotheses of this study are analyzed using Structural Equation Modelling (SEM) methodology. The study is conducted in the biggest electronic-store in Iran. The structural model, is developed on the basis of four main hypotheses as follows: H-1) Customer purchasing experience has impact on perceived value; H-2) Perceived value of customers has impact on satisfaction; H-3) Customer satisfaction has an impact on loyalty; H-4) Customer purchasing experience has an impact on loyalty. The reliability of questions is checked using opinion of a group of experts who have at least 15 years of related experiences. The hypotheses are tested using data extracted from 396 questionnaires through AMOS software. Results show that customer's experience is influenced by trust, interaction, perceived usefulness, action, information credibility, and relating. Also, the customers' experience in online purchases does not directly influence their loyalty, since experience is a mental concept which has to pass the sequence of "Experience-Perceived Value-Satisfaction-Loyalty" in order to be converted to a behavioral concept.