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Customer loyalty as a strategic lever: Beyond loyalty, toward trust

In 1992, a pioneering essay by Sandro Castaldo and Chiara Mauri highlighted the importance of loyalty promotions in Italian retail. These marketing initiatives, designed to boost short-term revenues, also aimed to build lasting relationships with customers and enhance brand image. Since then, customer loyalty has evolved into a fundamental strategic lever for business performance, adapting to an increasingly complex and competitive market.

 

More than three decades later, Professor Castaldo presents Customer Loyalty: Theory, Measurement, and Management (Bocconi University Press, 2024), a volume born from the collaboration between SDA Bocconi’s Channel & Retail Lab and TCC, a global leader in loyalty programs, which developed the Loyalty Promotion Monitor.

 

The book offers a comprehensive, up-to-date exploration of the topic. It begins by introducing the concept of loyalty and then delves into the challenges and trends retailers face, particularly in the fast-moving consumer goods industry, navigating omnichannel strategies and private labels.

 

Additionally, this work features a systematic review of marketing literature on loyalty, highlighting evolving conceptualizations, measurement methodologies, and practical implications. A scenario analysis completes the picture, based on interviews with key players in retail and manufacturing, along with a dedicated focus on TCC’s expertise.

 

In today’s dynamic environment, customer loyalty is no longer just about retention; it is a strategic goal encompassing sustainability, digitalization, and an increasingly customer-centric approach. Building trust with consumers is essential for fostering strong, enduring relationships that, in turn, drive revenue stability and market share growth.

 

  • Publisher: Bocconi University Press
  • Publication date: December 2024
  • ISBN: 9788823889316
  • Pages: 206
  • Format: DigitaBook

 

SANDRO CASTALDO is a Full Professor of Marketing at Bocconi University, Scientific Director of the Channel & Retail Lab at SDA Bocconi, and Scientific Director of the Executive Master in Retail Management for Spar International. He is also the President of the International Federation of Scholarly Associations of Management (IFSAM) and Editor in Chief of Economia and Management, SDA Bocconi’s scientific magazine

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