Black Friday rituals, customer perceived value and loyalty among young adult customers in South Africa: A Stimulus-Organism-Response perspective

Svotwa, Tendai Douglas; Roberts-Lombard, Mornay; Jaiyeoba, Olumide

Article

Black Friday rituals, customer perceived value and

loyalty among young adult customers in South Africa: A

Stimulus-Organism-Response perspective

Cogent Business & Management

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Suggested Citation: Svotwa, Tendai Douglas; Roberts-Lombard, Mornay; Jaiyeoba, Olumide (2020) :

Black Friday rituals, customer perceived value and loyalty among young adult customers in

South Africa: A Stimulus-Organism-Response perspective, Cogent Business & Management, ISSN

2331-1975, Taylor & Francis, Abingdon, Vol. 7, Iss. 1, pp. 1-14,

https://doi.org/10.1080/23311975.2020.1793523

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Black Friday rituals, customer perceived value and

loyalty among young adult customers in South

Africa: A Stimulus-Organism-Response perspective

Tendai Douglas Svotwa, Mornay Roberts-Lombard & Olumide Jaiyeoba |

To cite this article: Tendai Douglas Svotwa, Mornay Roberts-Lombard & Olumide Jaiyeoba |

(2020) Black Friday rituals, customer perceived value and loyalty among young adult customers in

South Africa: A Stimulus-Organism-Response perspective, Cogent Business & Management, 7:1,

1793523, DOI: 10.1080/23311975.2020.1793523

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MARKETING | RESEARCH ARTICLE

Black Friday rituals, customer perceived value

and loyalty among young adult customers in

South Africa: A Stimulus-Organism-Response

perspective

Tendai Douglas Svotwa

, Mornay Roberts-Lombard

* and Olumide Jaiyeoba

Abstract: The study explores the nexus of relationship between Black Friday rituals,

customer value and customer loyalty among young adult customers in South Africa.

A descriptive research design was followed and data were collected from 400 young

adult customers aged 18–35 in the Gauteng province of South Africa through self-

administered questionnaires. Furthermore, the measurement and structural models

were assessed using Amos 23.0. Relational capital and social influence significantly

and positively influence customer-perceived value, while customer-perceived value

significantly and positively influences the customer loyalty of young adult custo-

mers towards Black Friday rituals. The testing of the proposed model validates the

relationships that are hypothesised between the independent variables (cognitive

capital, relational capital, social identification, social influence, social convenience),

customer-perceived value and customer loyalty of young adult customers. The

findings assist retailers in understanding how relational capital and social influence

Tendai Douglas Svotwa

ABOUT THE AUTHOR

Dr Tendai Douglas Svotwa holds a PhD in

Business Management from the North-West

University in South Africa. He has presented at

conferences in France, Morocco, Tanzania, South

Africa, Namibia, and Botswana and has published

in several internationally refereed journals. He is

a member of the Africa Academy of Management

and a life-time member of the Golden Key

International Honour Society.

Mornay Roberts-Lombard is a Professor in the

Department of Marketing Management at the

University of Johannesburg in South Africa. His

areas of specialisation are Relationship Marketing

and Customer Relationship Management (CRM).

He has published articles in both international

and South African journals and delivered confer-

ence papers at various international platforms in

his fields of expertise.

Professor Olumide Jaiyeoba got a PhD in Business

Administration from the Faculty of Business,

University of Botswana. He is currently the Head

of Department of Graduate Studies in Business

and Accounting at Botho University in Botswana

where he provides academic and research

leadership.

PUBLIC INTEREST STATEMENT

The origins of Black Friday in South Africa can be

traced to the efforts of retail brand “Checkers”

which are credited in introducing the concept to

the country in 2014. As noted in a meta-

analytical review of extant literature, there are

numerous studies in South Africa on Black Friday

customers motives and brand-customer interac-

tion. However, little is known about their custo-

mer value perceptions and loyalty behaviour in

relation to cognitive, conative and affective

orientation. The findings from the data collected

using a self-administered questionnaire indicated

that relational capital, social influence and cus-

tomer-perceived value have a direct influence on

the loyalty of young adults towards Black Friday

rituals. At a practical level, the study advise

retailers in emerging markets to develop an

understanding that young adult customers are

sociable individuals and prefer to support Black

Friday rituals with family or friends.

Consequently, an ubuntu approach towards the

marketing of Black Friday rituals is required in an

emerging market such as South Africa.

Svotwa et al., Cogent Business & Management (2020), 7: 1793523

https://doi.org/10.1080/23311975.2020.1793523

Attribution (CC-BY) 4.0 license.

Received: 18 May 2020

Accepted: 28 June 2020

*Corresponding author: Mornay

Roberts-Lombard, Marketing

Management, University of

Johannesburg, South Africa

E-mail: [email protected]

Reviewing editor:

Len Tiu Wright, Faculty of Business

and Law, De Montfort University,

United Kingdom

Additional information is available at

the end of the article

Page 1 of 14

can strengthen the perceived value perception of young adult customers towards

Black Friday rituals, leading to customer loyalty. The study focused on the customer

loyalty of young adult customers of Black Friday rituals and determined the inter-

relationships of the extent to which they encounter customer-perceived value and

related constructs. However, a limited number of studies have examined how the

Stimulus-Organism-Response theory is applied to customer-perceived value and

customer loyalty from an emerging African market perspective.

Subjects: African Studies; Business, Management and Accounting; Media Communication

Keywords: Black Friday; young adults; customer-perceived value; customer loyalty;

Stimulus-Organism-Response

1. Introduction

South African retailers and shoppers perceive Black Friday as one of the most eventful bargain-hunting

days annually (Boyd & Peters, 2011; Labrecque, 2014). Through Black Friday promotions, retailers offer

shoppers incredible promotions (Demangeot & Broderick, 2016). Pomarici and Vecchio (2014) stated

that the buying power of young adults has increased significantly over the past decade, making them

an important market segment for companies to consider. However, despite their reputation of being

a lucrative market segment, young adults’ buying behaviour and motivational needs tend to be

unpredictable (Labrecque, 2014), as they easily switch brands and are not loyal to a particular brand

due to exposure to varied stimuli (Solka et al., 2011). Young adult customers are regarded as impulsive

buyers with a desire to stay ahead with the latest trends due to vicarious assertion. This behaviour is

supported by a plethora of social media platforms, leading to exposure to various virtual stimuli and

face-to-face experiences in emerging economies (Gan & Wang, 2017).

Farivar et al. (2017), and Oliver and Lee (2010) argued that relational and cognitive metrics are

inextricably associated with the purchase decisions of young adult customers, which are charac-

terised by social identities, conformities to expectations of social groups and peer acceptance, the

need for cheap cost, superior quality and the speed of service provision. Moreover, Oliver and Lee

(2010), and Rohm et al. (2013) argued that since young adult customers are characterised by

social identities, they develop numerous hedonic and utilitarian desires. Therefore, the assertion

stated above sets the precedence for unravelling young customers’ buying behaviour regarding

Black Friday rituals in an emerging economy like South Africa.

This study’s theoretical contribution is that it specifies the relationships identified between

customer-perceived value, its precursors and outcome in an emergent African market context.

The proposition of a model is secured and validated, illustrating the business-to-consumer (B2 C)

relationships between customer-perceived value, its precursors and the customer loyalty of young

adult customers supporting Black Friday rituals. In addition, from an academic perspective

research on Black Friday rituals has not previously been extensively explored. Research on Black

Friday rituals is important since it provides an understanding of the relational factors that influ-

ence the perceived value perception of customers which ultimately influence their loyalty in the

long term. The practical contribution of the study is by assisting South African retailers in devel-

oping knowledge of how cognitive capital, relational capital, social identification, social influence

and social convenience influence customer value perception, leading to the customer loyalty of

young adult customers in South Africa supporting Black Friday rituals.

According to PricewatersCoopers (PwC) customer spending report (2019), Black Friday’s shopping

events are seldom reported on in company’s annual reports as well as macroeconomic statistics on

retailers engagement with customers. The assertion espoused above thus sets the perspective for this

study on young customers that constitute 66% of the South Africa’s population, as they are rapidly

changing lifestyles with the search for purpose, demand for authenticity and personalization (PwC

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2019). In addition, PwC consumer report of (2019) further indicated that young customers aged

between 18 and 35 years increased retail sales by 36% in 2019 during the Black Friday popular

shopping event in South Africa as they make 51.5% of their purchases through online channels,

physical atmospherics and voice recognition services. In line with the aforementioned, retailers

need to become more progressive in the manner by which they service their customers during the

Black Friday shopping bonanza by leveraging young customer’s relational, cognitive, conative and

affective “make up” or “DNA” and impulsive dynamics to spend more.

This paper provides a telescopic insight of the context on which this study is based. This is followed

by the explication of the theories on which this study is grounded, coupled with an explanation of the

study’s myriad constructs. Hypothesis development and theoretical models are explicated, followed

by the research methodology, results, findings and managerial implications of the study.

2. Theoretical framework

2.1. Black Friday rituals

The genesis of Black Friday in Philadelphia in the USA in the 1960 s has evolved rapidly and

proliferated in the global arena. Starting off initially in the USA, Black Friday marked the advent of

the Christmas shopping period in which retailers would offer discounts and move large quantities

of inventory in a bid to increase profitability (Bell et al., 2014). The Black Friday ritual has since

spread across the globe to countries in North America (e.g., Canada), Europe (e.g., Denmark,

Germany, Greece, Poland, the Netherlands, Norway, the United Kingdom), Asia (e.g., India,

Malaysia, Singapore), South America (e.g., Brazil) and Oceania (e.g., Australia) (Tsiotsou, 2017).

The origins of Black Friday in South Africa can be traced to the efforts of retail brand Checkers,

which is credited with introducing the concept to the country in 2014 (Hanbury, 2018; PwC South

Africa, 2019). Furthermore, Caboz (2018) and Smith (2019) posited that Black Friday is associated

with extraordinary sales and has become the most phenomenal day for spending in the South

African retail sector, which was evidenced by the 2018 Black Friday retail expenditure that

exceeded R3 billion. Furthermore, Smith (2019) argued that although Black Friday shopping was

mainly concentrated in the Western Cape and Gauteng provinces of South Africa during its

introduction to the country in 2014, the trend has now extended to all of the other provinces,

which indicates the acceptance of the shopping extravaganza in South Africa.

2.2. Theories underpinning the study

This study is grounded on two theories: relationship marketing theory and the Stimulus-Organism-

Response (S-O-R) theory. Grönroos (2016) argued that to maintain a relationship with customers in

today’s competitive market environment requires both the making and fulfilment of promises that

can deliver on perceived value expectations of customers. The modern customer wants to feel

acknowledged, appreciated and engaged before an assessment of value delivery is made (Buell

et al., 2017; Gummerus et al., 2017; Tsai & Wang, 2017). When the receipt of value (inclusive of

benefits) from the relationship is positive, the customer will be more willing to engage in a long-

term relationship with the supplier, leading to retention and loyalty (Chang et al., 2015).

Demangeot and Broderick (2016), and Lucia-Palacios et al. (2016) stated that the S-O-R model

was developed by Mehrabian and Russell (1974) in which the outcome of environmental stimulus

is an emotive retort, thereby nurturing a behavioural response. Zhu et al. (2019) further noted that

S-O-R-based research comprehensively articulates the nexus of relationship between an emotive

retort and the response of customers regarding intention, purchase, consultation and return. Wu

and Li (2018) contended that the stimulus manifest factors determine the performance of stores,

which organism reflects, as well as the affective and cognitive state of customers in terms of

feeling and trustworthiness. Thus, the organism functions as a transitional platform that secures

behavioural outcomes or repurchase (Shatnawi, 2019).

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3. Theoretical model development

3.1. The relationship between cognitive capital and customer value perception

According to Bojica et al. (2012), cognitive capital facilitates an organisation in inculcating an

entrepreneurial environment since it promotes access to firm’s markets and resources.

Furthermore, cognitive capital has been found to be crucial for an organisation in sharing new

knowledge that is also critical with its networks, which enables the organisation to be innovative

(Molina-Morales & Martínez-Fernández, 2009). Customer-perceived value has been a major subject

of debate in the previous research in areas like economics, marketing, sociology and psychology

(Berraies et al., 2017). The creation of value has been confirmed in literature as the main objective

for any organisation (Kotler & Keller, 2015; Sheth & Uslay, 2007). To achieve competitive advan-

tage, it becomes imperative that organisations offer products and services that are valued by its

customers (Boksberger & Melsen, 2011). Consequently, it is hypothesised:

: There is a significant and positive relationship that exists between cognitive capital and the

customer value perception of young adult customers participating in Black Friday shopping rituals.

3.2. The nexus of relationship between relational capital and customer value perception

Relational capital refers to the existence of personal relationships that people normally develop

between or amongst themselves through human interactions (Granovetter, 1992; Nahapiet &

Ghoshal, 1998). Relations like friendship and respect are critical components of relational capital

(Nahapiet & Ghoshal, 1998). In the context of marketing, customer value perception can be viewed

from two approaches, namely the utilitarian and behavioural approach (Boksberger & Melsen, 2011).

The utilitarian approach posits that customers normally attach value to the consumption of products

and services, based on the utility they get from the product vis-à-vis the price they pay for the product

or service (Boksberger & Melsen, 2011). On the contrary, the behavioural approach indicates the social

interactions between customers and organisations, and customer value perception is based on the

customer’s use of the product or services (Berraies et al., 2017; Boksberger & Melsen, 2011). Through

the personal relationships that customers develop with providers of products and services, they are

likely to consume those products and services. Therefore, it is hypothesised that:

: There is a significant and positive relationship that exists between relational capital and the

customer value perception of young adult customers participating in Black Friday shopping rituals.

3.3. The relationship between social identification and customer value perception

Young adult customers are represented by a group of young, technology-savvy individuals who

mostly rely on the Internet and would want to be identified through social media platforms

(Bilgihan, Peng & Kandampully, 2014). Social identification, which is provided through social

communication services provided by social networks, has an impact in terms of the company’s

operations in specific areas, such as the company’s brand and customer relationship (Bilgihan

et al., 2014; Jansen et al., 2009). Since customers would want to be associated with company

brands that give them some perceived value, it is hypothesised:

: There is a significant and positive relationship that exists between social identification and the

customer value perception of young adult customers participating in Black Friday shopping rituals.

3.4. The relationship between social influence and customer value perception

Interpersonal influences have been found to impact on individuals’ behaviour, thus affecting their

decision-making processes (Bearden et al., 1989). Bilgihan et al. (2014) argued that an important

force that shapes an individual’s behaviour as a customer has been social influence that may occur

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Page 4 of 14

prior to purchase, such as during the information-seeking stage. Therefore, young adult customer

decisions may be influenced by friends, since they possess relevant information to the purchase

decision (Mangleburg et al., 2004). In contrast, customer value perception, which is the same as

perceived value, refers to how a customer assesses the cost as well as the benefit that arises from

a particular purchase, which is then used to make an assessment of competing offers (Hänninen &

Karjaluoto, 2017). In this regard, social influence greatly contributes to the value attached to

products and services by individuals. Considering the discussion above, it can be hypothesised that:

: There is a significant and positive relationship that exists between social influence and the

customer value perception of young adult customers participating in Black Friday shopping rituals.

3.5. Relationship between social convenience and customer value perception

Social influence is regarded as a significant factor that influences the behaviour of a customer

before a purchase is made and can be in the form of word-of-mouth communication or informa-

tion searching (Mangleburg et al., 2004; Soares et al., 2017). Based on the aforementioned, it can

be further noted that young adults are potentially influenced by the opinion of friends who share

information with them. Such information is perceived as important to young adults, since it is

provided by their peers and assists with the development of positive self-identities (Haba et al.,

2017; Mangleburg et al., 2004; Valaei & Nikhashemi, 2017). Wirtz et al. (2013) concurred, stating

that young adults use social media as a convenience tool to engage with friends and family

members. They further posited that such interactions affect customers’ social convenience and

value proposition in the context of identity formation, service expectations, engagement with

brands and firms, purchase behaviour, brand loyalty lifetime value and the value of the firm.

Against this background, the following hypothesis is proposed:

: There is a significant and positive relationship that exists between social convenience and the

customer value perception of young adult customers participating in Black Friday shopping rituals.

3.6. Relationship between customer-perceived value and customer loyalty

Perceived value can be described as a polymorphic concept that has been extensively researched in

numerous academic fields, such as marketing, psychology, sociology and economics (Berraies et al.,

2017). Brodie (2017) stated that customer value encompasses customers’ perceptions derived from

the trade-off between the benefits (product/service quality) received and sacrifices (price/non-

monetary costs) made when purchasing a product or service. Such a trade-off can influence customer

loyalty (Minta, 2018). Therefore, perceived value needs to be understood as a necessary condition to

establish customer loyalty (Carlson et al., 2015). Considering this, it is hypothesised that:

: There is a significant and positive relationship that exists between customer perceived value and

customer loyalty of young adult customers participating in Black Friday shopping rituals.

Figure 1 illustrates the hypothesised model and reflects on the different relationships proposed.

4. Methodology

A quantitative approach and descriptive research design were followed in this study. Data were

collected from 400 young adult customers between the ages of 18 and 35 in the Gauteng province

of South Africa through self-administered questionnaires. Gauteng Province was chosen as the area of

study since it is the most populous province in South Africa with 15,2 million inhabitants, accounting

for 25.8% of the total population (Statistics South Africa, 2019). The young customers in South Africa

are White, Black African, Coloured and Indian/Asian in this empirical study. According to Statistics

South Africa (2019) mid-year population estimates, out of the total population of 58.78 million, Black

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Africans constituted 81%, followed by Coloureds at 9%, Whites accounted for 8%, while Indian/Asians

constituted 3% of the entire population. Goods and services purchased by the sampled target

audience include electrical equipment, technological goods, branded clothing and shoes, accessories,

homewares, bags, beauty products, DIY and hardware products, toys, jewellery, food and drinks as

well as Christmas stocking fillers and treats. However, there were no observed differences in the

spending patterns of the various races in the present study.

A convenience sampling method (non-probability sampling technique) was adopted since the

sampling frame is unknown. The questionnaire started with an introduction and a screening

question to make sure that potential respondents were part of the selected target population.

The questionnaire comprised sections enquiring about respondents’ demographic profiles and the

sub-constructs of cognitive capital, relational capital, social identification, social influence, social

convenience, customer value perception and customer loyalty. A 5-point Likert scale response

format was used in data gathering.

The empirical study seeks to use the S-O-R paradigm based on the Mehrabian and Russell (1974)

approach/avoidance model of environmental psychology. The statements in the research instru-

ment were adapted from the work of Wu and Li (2018) on the S-O-R perspective. Scale items were

also subjected to reliability and validity to explain the robustness of the psychometric nomencla-

ture of the scale items. The validity of the scale items was tested using Cronbach’s alpha, Kaiser-

Meyer-Olkin (KMO) and average variance estimates (AVE), which all meet the minimum threshold

as established in extant literature. Data were collected over a six-week period. Table 1 illustrates

the different items that were used to measure each of the constructs.

Data were cleaned and entered into SPSS 23.0. Descriptive statistics were established to gain

a telescopic insight into the dynamics of Black Friday rituals and customer value/loyalty among

young adults. Internal consistency, discriminant and convergent validity were calculated to estab-

lish the psychometric nomenclature of the scale items in the myriad elucidated sub-constructs.

The measurement model and structural model were also evaluated using Amos 23.0.

5. Empirical findings

5.1. Demographic profile of respondents

All the respondents in the study were aged between 18 and 35 and supported Black Friday rituals.

The majority of participants were male (52.8%), in possession of a post-school qualification

(39.3%), predominantly full-time employed (40.7%) and married or living with a partner (45.92%).

Customer

loyalty

Customer

perceived value

Cognitive

capital

Relational

capital

Social

identification

Social

influence

Social

convenience

Figure 1. Proposed model.

Source: Researchers’ own

construct.

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Page 6 of 14

Table 1. Constructs and items

Cognitive capital (CC)

Black Friday customers always agree on what is important for solving shopping problems.

Black Friday customers always share similar ambitions for improving shopping efficiency.

Black Friday customers always share a similar vision to improve shopping efficiency.

Relational capital (RC)

Black Friday customers are always enthusiastic about sharing collective goals aimed at maximising

shopping profits.

Black Friday customers are always enthusiastic about sharing the same mission, namely to maximise

shopping profits.

Black Friday customers are truthful in dealing with one another during a shopping event.

Peers/Reference groups are truthful in dealing with Black Friday rituals.

Peers/Reference groups always try to help me out if I get into difficulties while shopping.

I can trust peers/reference groups to help me complete Black Friday rituals effectively.

Social identification (SI)

I make good friends with Black Friday customers.

Black Friday customers interact with one another when shopping on Black Friday.

I care about the opinion that peers/reference groups have about me when shopping on Black Friday.

The time I spent with my peers/reference groups during a Black Friday shopping ritual is worthwhile.

Social influence (SIF)

I look for peers/reference groups that have common buying interests when shopping on Black Friday.

People who influence my behaviour think that I should join social shopping on Black Friday rituals.

People around me think that I should associate with Black Friday rituals.

People around me are generally supportive about Black Friday rituals.

I was able to decide easily on my place of shopping on Black Friday.

Social convenience (SC)

I was able to complete my shopping quickly on Black Friday.

I was able to get the benefits of shopping with minimal effort on Black Friday.

I was able to complete my shopping at any time on Black Friday.

I was able to complete my shopping at any place on Black Friday.

Customer value perception (CVP)

Items are reasonably priced on Black Friday.

Items have consistent quality on Black Friday.

The items sold on Black Friday are good-quality products for the price paid.

I enjoy Black Friday rituals.

Black Friday rituals make me feel good.

Black Friday rituals give me pleasure.

Black Friday rituals help me feel acceptable.

Customer loyalty (CL)

I will recommend Black Friday to others.

I will speak favourably about Black Friday to others.

I will tell others about my positive experience with Black Friday rituals.

I will continue shopping on Black Friday in the future.

I will involve more effort in social shopping on Black Friday in the future.

Source: Adapted from Wu and Li (2018)

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5.2. Reliability and validity

The psychometric properties for the scale items for CC, RC, SI, SIF, SC, CVP and CL were

tested to establish the reliability and validity of the sub-constructs in this empirical study.

The Cronbach’s alpha values are: CC = 0.945, RC = 0.886, SI = 0.795, SIF = 0.775, SC = 0.789,

CVP = 0.861 and CL = 0.926. The factor metrics range values are: CC = 0.887–0.917,

RC = 0.513–0.721, SI = 0.500–0.791, SIF = 0.500–0.898, SC = 0.500–0.680,

CVP = 0.620–0.906 and CL = 0.678–0.844. The AVE values are: CC = 0.901, RC = 0.639,

SI = 0.624, SIF = 0.549, SC = 0.615, CVP = 0.829 and CL = 0.773. The KMO, AVE and factor

metrics lend credence to the robustness of the factor structure in this empirical study, while

the psychometric nomenclature meets the minimum threshold as established in extant

literature and highlighted in Table 2.

5.3. Measurement model assessment

Confirmatory factor analysis was conducted on the 34-scale item, seven-construct model to

assess the psychometric nomenclature of the parsimonious model in this empirical study. As

indicated in Table 3, the measurement model results explicate goodness of fit measures as

postulated in extant literature by Hair et al. (2014). The goodness of fit metrics of chi-square

(CMIN/DF) (Contrast Media-Induced Nephropathy divided by the Degree of Freedom), NFI

(Normed Fit Index), RFI (Relative Fit Index), IFI (Incremental Fit Index), TLI (Tucker Lewis

Index) and CFI (Comparative Fit Index) meet the minimum threshold of 0.9, as recommended

in the extant literature and the RMSEA (Root mean square error of approximation) is below the

prescribed threshold of 0.08.

Table 4 indicates telescopic insight into the factor loading, variance explained and the means

and standard deviations of the 34 items used to measure the myriad constructs for the

S-O-R model. Factor loading meets the minimum threshold of 0.5 and the variance explained

is also above the minimum threshold of 0.3, as postulated in extant literature. The mean values

of the myriad of scale items of the constructs indicate a contribution to the regularity of the

construct.

Table 5 explicates the convergent and discriminant validity as well as the composite trait

reliability of the construct in the parsimonious model. The AVE ranged from 0.678 to 0.825,

which is above the 0.5 threshold, signifying convergent validity. While the inter-item construct

Table 2. Psychometric nomenclature of construct measurement

Construct Cronbach’s alpha KMO AVE

CC 0.945 0.769 0.901

RC 0.886 0.814 0.639

SI 0.795 0.705 0.624

SIF 0.775 0.771 0.549

SC 0.789 0.654 0.615

CVP 0.861 0.802 0.829

CL 0.926 0.845 0.773

Table 3. Measures for goodness of fit (measurement model)

CMIN DF P CMIN/

NFI RFI IFI TLI CFI RMSEA

365.14 127 0.00 2.88 0.89 0.91 0.93 0.97 0.94 0.048

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correlations are all less than the lowest variance extracted value of 0.678, which indicates

discriminant validity, and the composite trait reliability all exceed the 0.7 threshold. The multi-

collinearity assumptions are also not violated, as indicated by the variance inflation factor and

tolerance levels in the collinearity diagnostics conducted for the study.

5.4. Structural model assessment

After the evaluation of the psychometric nomenclature of the scale items and its underlying dimen-

sions, it was important to evaluate the structural dynamics of the model. The structural dynamics of

the model were evaluated in the context of the goodness of fit measures with respect to the

measurement model. The NFI, RFI, IFI, TLI and CFI are all above the 0.9 threshold, and the RMSEA

Table 4. Factor loadings, variance explained, means (M) and standard deviations (SD)

Construct Item Factor

Variance

explained

M SD

CC X

0.887 0.853 2.95 1.43

0.917 0.830 3.02 1.36

0.900 0.872 3.02 1.38

RC X

0.513 0.716 3.25 1.37

0.560 0.748 3.33 1.34

0.628 0.792 2.77 1.37

0.721 0.849 3.09 1.36

0.721 0.849 3.12 1.37

0.690 0.831 3.07 1.41

SI X

0.791 0.889 2.69 1.39

0.681 0.825 2.90 1.47

0.535 0.731 2.33 1.31

0.489 0.700 3.07 1.44

SIF X

0.486 0.236 2.94 1.46

0.821 0.675 3.11 1.39

0.898 0.806 3.36 1.40

0.841 0.707 3.53 1.36

0.565 0.319 3.58 1.37

SC X

0.677 0.823 2.70 1.44

0.680 0.825 2.71 1.43

0.637 0.798 2.96 1.47

0.464 0.681 3.34 1.44

CVP X

0.782 0.874 4.06 1.06

0.879 0.930 3.90 1.13

0.878 0.921 3.95 1.14

0.844 0.397 3.41 1.36

0.895 0.332 3.32 1.33

0.906 0.524 3.34 1.42

0.620 0.579 2.82 1.47

CL X

0.766 0.875 3.78 1.23

0.844 0.919 3.63 1.24

0.837 0.915 3.56 1.28

0.738 0.859 3.78 1.26

0.678 0.824 3.43 1.29

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Page 9 of 14

value is below the required 0.08. Therefore, the assertion espoused above indicates the alignment of

the model to the data in this empirical study.

As indicated in Table 6, after the psychometric properties of the model have been assessed and

subliminal assumptions explored, the structural properties of the model had to be evaluated. It

was established that the goodness of fit measures meet the minimum threshold of 0.9 for CMIN/

DF, NFI, RFI, IFI, TLI, CFI. However, RMSEA is below the 0.08 minimum threshold as postulated in

extant literature. Table 7 provides insight into the findings with respect to the hypotheses for-

mulated for the study.

6. Discussion

The study made a contribution that is both theoretical and practical. The findings of the study

explicate psychometric nomenclature that the scales used to measure the hypothesised relation-

ships between cognitive capital, relational capital, social identification, social influence, social

convenience, customer value perception and customer loyalty are reliable and valid. The hypothe-

sised relationships proposed have been validated, endorsing the nomological web between cog-

nitive capital, relational capital, social identification, social influence, social convenience, customer

value perception and customer loyalty with respect to young adult customers and Black Friday

rituals within a developing African market context.

Table 5. Average variance extracted, squared inter-construct correlations and composite trait

reliability

Variable CC RC SI SIF SC CVP CL

CC 0.825*

RC 0.473 0.746*

SI 0.384 0.412 0.729*

SIF 0.412 0.324 0.435 0.678*

SC 0.513 0.423 0.279 0.456 0.685*

CVP 0.289 0.340 0.431 0.329 0.314 0.847*

CL 0.368 0.289 0.393 0.422 0.381 0.273 0.786*

Composite

trait

reliability

0.945 0.886 0.795 0.775 0.789 0.861 0.926

*AVE reflected diagonally and squared correlations below AVE.

Table 6. Measures for goodness of fit (structural model)

CMIN DF P CMIN/

NFI RFI IFI TLI CFI RMSEA

434.13 129 0.00 3.365 0.92 0.88 0.98 0.94 0.91 0.052

Table 7. Summary of findings

CC/CVP Rejected

RC/CVP Supported

SI/CVP Rejected

SIF/CVP Supported

SC/CVP Rejected

CL/CVP Supported

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Page 10 of 14

From a theoretical perspective, the study established that relational capital, social influence

and social convenience resonate with the customer value perception of young adult customers.

Moreover, social influence and customer value perception lend credence to customer loyalty in

the context of Black Friday rituals. Considering this, it can be argued that the theoretical

constructs proposed emphasised that there is acute paucity of Black Friday rituals carried out

in South Africa as a developing African market. In addition, the different precursors of customer-

perceived value could be used by researchers in the future to study the influence of customer-

perceived value on customer satisfaction, customer retention or behavioural intention. Therefore,

the study makes a significant contribution to Black Friday literature by proposing valuable

measurement dimensions.

In addition, academic research on Black Friday rituals is important to develop an improved

understanding of young customers as they constitute 66% of South Africa’s population (Statistics

South Africa, 2019). The study seeks to contribute to the body of knowledge by understanding the

cognitive, conative and affective aspirations of young customers in the rapidly changing global

markets. Retail managers thus need to understand the preferences of young customers (based on

relational and cognitive factors) in order to secure the sustainability of their businesses by offering

a value proposition as well as undertaking the implementation of the marketing concept which is

aligned to the myriad of aspirations of young customers in South Africa.

In terms of the managerial contribution, the study can assist marketing or brand managers in

conceptualising the utilitarian and hedonic motives of young adult customers in South Africa.

Labrecque (2014) and Solka et al. (2011) posited that despite their reputation of being a lucrative

market segment, the buying behaviour and motivational needs of young adults tend to be

unpredictable as they switch brands and are not loyal to a particular brand due to exposure to

varied stimuli. Therefore, this study’s findings are important as they inform South African retailers

and retail brand managers of the factors that need to be considered when developing value for

young adult customers to strengthen their loyalty.

7. Managerial implications

Considering the results of the study, it can be argued that retailers in an emerging African market

such as South Africa should focus on the development of positive engagements that will ensure

young adults will communicate favourably about their Black Friday experiences to family and

friends. Such experiences should be built on the offering of financial value (such as discounts or

specials), excellent sales service and engaging sales consultants who are friendly and supportive in

their service delivery efforts. Although young adult customers are brand-conscious and price-

sensitive, they still consider service delivery a critical part of the Black Friday event. Therefore, an

unforgettable experience that encompasses after-sale service support to the customer and is also

professional in nature is important as a differentiating factor for retailers when marketing Black

Friday to young adults in an emerging African market.

Furthermore, the marketing of Black Friday to prospective young adult customers should be

guided by intrinsic factors that are characteristic of this customer segment. This generation

remains focused on the price charged with the product, the brand image of the product and the

quality of the product offered. This can be secured if retailers focus their marketing strategies for

Black Friday rituals around specific items that are of interest to young adults. These items should

be trendy, well priced and aimed specifically at the young adult market segment in terms of its

brand value offered. For young adults, brand value encompasses the offering of products that are

making this customer group feel accepted, happy to consume the product and satisfied with using

the product. In addition, the products offered by retailers during Black Friday promotions and the

experience of young adult customers should be pleasurable, both from a usable and an engage-

ment perspective. Create products and experiences that are joyful and exciting, securing a positive

feeling of contentment and satisfaction in the long term.

Svotwa et al., Cogent Business & Management (2020), 7: 1793523

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Page 11 of 14

Finally, retailers should note that young adults are active on social media platforms, such as

Instagram, Pinterest and Twitter. Through Black Friday promotions, young customers use the

Internet to note where the best product promotions are. Retailers can access these platforms to

note communication sharing by young customers around product deals, including their opinions

around product promotions (i.e., which product promotions add value, which products are not of

much interest to young adults and why). Retailers can tap into this online conversation using Social

School to drive traffic to their websites and into their stores.

8. Conclusion

The purpose of this study was to explore the nexus of relationship between Black Friday rituals, customer

value and customer loyalty among young adult customers in South Africa. It was concluded that the

customer perceived value of young adult customers supporting Black Friday rituals in South Africa

strengthens their loyalty to such retail promotions. However, this depends on whether these young

adult customers have a positive perception of the cognitive capital and relational capital benefits

obtained from supporting a Black Friday ritual. It is recommended that retailers in emerging markets

develop an understanding that young adult customers are sociable individuals and prefer to support

Black Friday rituals with family or friends. Consequently, an ubuntu approach towards the marketing of

Black Friday rituals is critical. The study contributes to the marketing field by informing academics and

retailers of the need to fully understand young customer experience priorities, physical and virtual

queueing, offering great deals and big discounts, providing safety and security, and avoiding stock

shortages are vital for marketing strategy and market orientation in the dynamic markets of today.

A limitation of the study is that only selected S-O-R factors that can influence customer-

perceived value were included. However, the study secured focused insights into these selected

factors that can influence Black Friday rituals in a South African retail setting. Future studies can

consider testing additional relationship marketing factors on customer-perceived value, conduct

the study in another emerging market, or even consider a comparative study between emerging

markets across different continents.

Funding

The authors received no direct funding for this research.

Author details

Tendai Douglas Svotwa

E-mail: [email protected]

Mornay Roberts-Lombard

E-mail: [email protected]

Olumide Jaiyeoba

E-mail: [email protected]

Department of Business Management, Botho University,

Gaborone, Botswana.

Department of Marketing Management, School of

Consumer Intelligence and Information Systems,

University of Johannesburg, Johannesburg, South Africa.

Faculty of Business and Accounting, Botho University,

Gaborone, Botswana.

Citation information

Cite this article as: Black Friday rituals, customer perceived

value and loyalty among young adult customers in South

Africa: A Stimulus-Organism-Response perspective, Tendai

Douglas Svotwa, Mornay Roberts-Lombard & Olumide

Jaiyeoba, Cogent Business & Management (2020), 7:

1793523.

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