THE INFLUENCE OF CREATING SHARED VALUE ON CUSTOMER RETENTION: A SYSTEMATIC REVIEW

Abstract

Creating shared value (CSV) is closely associated with customer retention, as it involves creating economic value while addressing societal needs to foster long-term customer relationships. Customer retention refers to the activities organizations undertake to reduce customer defections and maintain enduring relationships. This study employs a systematic literature review to explore the impact of CSV on customer retention, analyzing relevant literature published in Google Scholar and Ebsco Host from 2019 to 2023. The goal is to synthesize research findings with CSV and customer retention as core variables, and identify research trends over the past five years. The results indicate that most studies focus on indirect relationships between CSV and customer retention, with quantitative methods (66.7%), particularly structural equation modeling, being dominant. Research is most prevalent in Australia and India, followed by Spain and Poland, while studies in Malaysia are relatively scarce. The private service sector, especially banking, accounts for the largest proportion of research. Limitations of this study include a focus solely on literature discussing the impact of CSV on customer retention and consideration of a limited number of databases