The Influence of Perceived Risk and Perceived Value on Customer Loyalty with Customer Satisfaction as A Mediator for E-Commerce Users in Banda Aceh City

Rizka Safitri1, Jasman J. Makruf2, & Sorayanti Utami3*
1,2,3 Management Department, Universitas Syiah Kuala, Indonesia
DOI – http://doi.org/10.37502/IJSMR.2024.71108

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Abstract

In this study, we aimed to explore how perceived risk and perceived value impact customer loyalty, with customer satisfaction serving as an intermediary factor. We gathered data from 170 participants through online surveys and measured the variables using 17 indicators. Our analytical tools included SPSS, AMOS, and the Sobel calculator. Upon analysis, we found that 4 hypotheses were rejected while 3 were accepted. It was observed that perceived risk has a positive but insignificant effect on satisfaction, and a negative and insignificant effect on loyalty. On the other hand, perceived value was found to have a significant positive influence on satisfaction, but an insignificant effect on loyalty. Furthermore, satisfaction was shown to have a significant positive impact on loyalty. Interestingly, we found that satisfaction could mediate the relationship between perceived value and loyalty but not between perceived risk and loyalty. Our results confirm that customer loyalty among e-commerce users is influenced by perceived value and customer satisfaction.

Keywords: Perceived Risk, Perceived Value, Customer Loyalty, Customer Satisfaction

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