The Role of Value Consciousness and Customer Engagement toward Brand Loyalty in Social Media Marketing: Luxury Brands Perspective.

This study aimed to investigate consumers’ brand loyalty towards luxury brands in the context of Bangladesh to address the identified research gap. The conceptual framework of this study was developed based on the notion of Social Exchange Theory (SET). A self-administered survey instrument was used to collect data from 523 luxury brand consumers through online using purposive sampling technique. The collected data were analysed employing Partial Least Squares based Structural Equation Modeling. The findings showed that electronic-WOM (eWOM) has a significant effect on customer engagement, and value consciousness, and customer trust is also greatly influenced by customer engagement. Furthermore, eWOM, customer engagement, value consciousness, and customer trust had a significant influence to produce customers’ brand loyalty towards luxury brands. The study also revealed a significant mediation role of value consciousness, and customer trust on the relationship between brand loyalty and eWOM as well as customer engagement respectively. These findings were expected to extend the extant knowledge of this area of studies. The implications, conclusions, and prospects for future studies were outlined at the end of this paper.