The influence of acculturation on consumer relational bonding in banking relationships

Abstract

This study examines the influence of acculturation on ethnic consumers' relational bonding with their banking service provider. The study is set in the financial services sector and focuses on Chinese consumers living in New Zealand. In the collectivist Chinese culture, building personal relationships based on guanxi is of primary importance. Therefore, understanding the interplay between relational behavior and guanxi in this group's relationship commitment is fundamental. The study examines the drivers of relationships in the Chinese banking relationship in the host culture and applies western and Chinese relationship concepts to capture the influence of acculturation on Chinese consumers' behavior. Structural equation modeling and multi-group analysis reveal that Chinese consumers' acculturation levels positively influence structural and social bonding with the banking service provider (or target of commitment). The impact of structural and social bonding on the target of commitment varies under different consumer acculturation levels.

Keywords:

• acculturation
• structural bonding
• social bonding
• guanxi
• personal relationships
• banking