Correlation Analysis of Factors Influencing Customer Loyalty in Retail Pharmacy Chains: A Cross-Sectional Study in Vietnam

Abstract

Abstract Introduction: In the current era, health has become a growing concern for everyone, leading to a rise in the number of pharmacies in residential areas. This has created a fiercely competitive market, compelling pharmacy chains to implement effective elements and strategies to retain customers. Research objective: Analyze factors affecting customer loyalty to pharmacy chains in Can Tho city from 2023 to 2024. Research subjects and methods: The data for this study was collected through interviews with customers who purchased medication from pharmacy chains. A pre-designed set of questions was used to gather information. Results: There were 4/32 variables eliminated after conducting the Cronbach's Alpha test. The Kaiser-Meyer-Olkin (KMO) coefficient, ranging from 0.886 to 0.91, indicated that the data was statistically significant and met the criteria for Exploratory Factor Analysis. The results satisfied the requirements for total variance extracted (> 50%) and the Eigenvalue coefficients were all greater than 1 (from 1.014 to 5.385, p < 0.05). Confirmatory Factor Analysis and Structural Equation Modeling were consistent with market data on factors affecting customer loyalty. The analysis revealed that pharmacy chain brands, price, facilities, convenience, and employee knowledge had a positive influence on loyalty. Importantly, all factors demonstrated a statistically significant impact (p < 0.05). Conclusion: This analysis successfully identifies and models the factors influencing customer loyalty to the services provided by pharmacies, thereby advancing research on the impact of dedication, trust, and barrier transformation on customer loyalty.