In this study, we investigate two main determinants affecting brand loyalty during inflationary times. On one hand, brand value, which reflects the functional quality of the products, is supposed to be the driver for brand loyalty regardless of who is the customer. On the other hand, the customer-oriented perspective argues for demographic characteristics that can predict the brand loyalty. This study attempts to bring these two perspectives together in order to determine the validity of the claim of each. Logistic regressions are used to analyze the data collected from Thai consumers. It is found that among several demographic characteristics of the consumers, income stands out as a significant determinant of brand loyalty during inflationary times whereas brand value does not seem to play any significant role.
brand, loyalty, inflation