Modeling The Effects Of Socio-Demographic, Psychographic And Relationship Characteristics On Share Of Wallet For Financial Services

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Raymond T. Kong
Manfred F. Maute


customer equity, loyalty, customer satisfaction, financial services, share of wallet


Customer Loyalty is frequently conceptualized as customer retention even though polygamous loyalty to multiple products/brands is commonplace and customers are unlikely to shift all of their purchases to another supplier following dissatisfaction.  In this study, loyalty is operationalized as share of wallet (SOW) and modeled in relation to socio-demographic, psychographic and relationship predictors.  Results indicate that chequing account SOW was negatively skewed and leptokurtic with a mean of 83.3%.  In contrast, mean credit card SOW was 59.5% and the distribution was negatively skewed and platykurtic.  Relationship length, depth and satisfaction, and financial attitudes, values and lifestyles, but not consumer socio-demographics, emerged as key predictors of share of wallet. 


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