Modeling brand experience and brand equity association in the banking industry: mediating role of brand identification, attachment and engagement

Purpose This study aims to assess the relationship between brand experience and brand equity in the private banking industry, focusing on the potential mediating effects of brand identification, attachment and engagement. Design/methodology/approach Data was conveniently gathered from 293 customers with bank accounts in different private banks using a structured questionnaire. The collected data was analyzed using PLS-SEM. Findings The study found that brand identification, attachment, engagement and experience significantly influence brand equity. Furthermore, all three mediators mediate the correlation between brand experience and brand equity. Practical implications This study’s findings provide valuable insights for management and decision-makers in the private banking industry. They can use these insights to enhance their banks’ brand equity through exceptional brand experiences. This research also significantly contributes to the current body of knowledge on the importance of brand experience in developing brand equity and achieving business success in the banking sector. Originality/value This study makes a unique contribution to the existing body of knowledge by introducing the mediating roles of brand identification, attachment and engagement in the association between brand experience and brand equity. This enriches the current understanding of brand management strategies in the banking sector.