Analyzing the Relationship between Customer Equity and Consumer Well-Being: Evidence from Viet Nam

Abstract

Research aims: This study explores the influence of three key dimensions of customer equity - Value Equity (VE), Brand Equity (BE), and Relationship Equity (RE) - on Consumer Well-Being (CWB) within Vietnam’s retail sector. It further investigates the direct and mediating mechanisms through which these equity drivers shape perceived well-being.
Design/Methodology/Approach: A quantitative method was adopted, using survey-based data from the retail environment in Vietnam. Structural equation modeling (SEM) was applied to empirically assess both the hypothesized effects and the structural links among VE, BE, RE, and CWB.
Research findings: The findings reveal that VE has a positive influence on both RE and CWB, whereas RE stands out as the most substantial contributor to CWB. While BE significantly impacts VE and RE, it does not directly influence CWB. These results indicate that consumer well-being is largely shaped by value perceptions and relationship quality rather than brand-related factors alone.
Theoretical contribution/Originality: This study broadens the customer equity theory by incorporating consumer well-being and testing their combined framework in an emerging market setting. The results clarify how distinct customer equity components differentially contribute to consumer well-being outcomes.