Religiosity Towards Ar-Rahnu Customer Retention: The Moderating Role of Awareness
Abstract
Ar-Rahnu is a type of financing product that has gained popularity due to its availability as a quick source of cash. Despite surging popularity as a quick cash solution, Ar-Rahnu, a Malaysian Islamic pawnbroking product, grapples with low customer retention. While initial user awareness focuses primarily on Shariah compliance, the drivers of sustained patronage remain enigmatic. This study aims to examine the relationship between religiosity and customer retention, and the role of awareness as a moderating factor. Data was collected from 327 customers through questionnaires and analyzed using Partial Least Squares Structural Equation Modelling. The results showed that religiosity had no effect on customer retention, and awareness did not moderate the relationship between religiosity and retention. Ar-Rahnu's appeal appeared to extend beyond religious motivations, highlighting the product's broader market potential. This suggests that awareness on its own can influence customers to continue using Ar-Rahnu products. These findings provide insights for the management of Ar-Rahnu to increase visibility and awareness of the product.
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
About this article
Publication Date
06 May 2024
Article Doi
eBook ISBN
978-1-80296-132-4
Publisher
European Publisher
Volume
133
Print ISBN (optional)
-
Edition Number
1st Edition
Pages
1-1110
Subjects
Marketing, retaining, entrepreneurship, management, digital marketing, social entrepreneurship
Cite this article as:
Hisham, R. R. I. R., Yusuf, Y. H. M., & Nowalid, W. A. W. M. (2024). Religiosity Towards Ar-Rahnu Customer Retention: The Moderating Role of Awareness. In A. K. Othman, M. K. B. A. Rahman, S. Noranee, N. A. R. Demong, & A. Mat (Eds.), Industry-Academia Linkages for Business Sustainability, vol 133. European Proceedings of Social and Behavioural Sciences (pp. 151-161). European Publisher. https://doi.org/10.15405/epsbs.2024.05.13