167 NTU Management Review Vol. 31 No. 3 Dec. 2021 Gardial, 2002). Customers evaluate the values through their assessments of what is given and anticipated. Economic and relational values are two central components of customer values (Chan, Yim, and Lam, 2010). On the one hand, economic value refers to the perceived economic benefits expected in comparison with an exchange cost of the product or service. Economic value may also relate to the benefit and cost outcomes of the core product or service, such as providing better product quality, customizing services, and yielding control to customers (Yim, Chan, and Lam, 2012). On the other hand, Sweeney and Soutar (2001) refer relational value to the utility resulting from the emotional states that retailers engender. Relational value also relates to the social bonds between customers and retailers (Yim et al., 2012). These views of relational value incorporate an affective dimension that represents the emotional aspects of customers. Multichannel integration aims to improve performance and customer experiences across channels, allowing customers to simultaneously interact with online and offline channels during purchase (Verhoef et al., 2015). Multichannel integration also enhances the efficiency of transaction, increases convenience, and enriches shopping experiences of customers (Cervellon, Sylvie, and Ngobo, 2015). For example, customers can purchase products through online channels and pick them up at an offline channel at their convenience. Accordingly, multichannel integration reduces time and effort required to screen the shopping environment and enhances customers’ perceived cost savings. In addition, multichannel integration offers customers alternative touchpoints to make extra choices, and produces high levels of service quality (Herhausen, Binder, Schoegel, and Herrmann, 2015; Keller, 2010). For example, the creation and development of multichannel databases which consolidate customer information facilitates seamless multichannel shopping experiences with shared operations between online and offline channels (Jeanpert and Paché, 2016). Multichannel integration also strengthens customers’ sense of self-control. Customers who are accustomed to such an integration are likely to make efficient decisions resulting in high economic value. Hence, we propose our first hypothesis as follows. H1: Multichannel integration has a positive influence on economic value. Jeanpert and Paché (2016) state that multichannel integration is viewed as part of the value-creating system. When multichannel retailers manage integration well, customers will have better shopping experiences and are likely to develop positive relationships with the retailers. Moreover, ambient conditions of multichannel integration arouse customers’
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