ANALISIS KEPUASAN SEBAGAI PEMEDIASI PENGARUH KUALITAS LAYANAN DAN PERSEPSI NILAI PADA LOYALITAS PELANGGAN PRODUK GADAI DI PEGADAIAN CABANG MALANG

The customer loyalty level for pawn products at Pegadaian Malang Branch decreased from 88.3% in 2022 to 87.8% in 2023, accompanied by a decline in customer retention from 84.4% to 80.3% in the same period. This condition indicates a challenge for the company in retaining existing customers who have previously used the service. Increasing competition among financial service institutions requires companies to not only focus on acquiring new customers but also on maintaining satisfaction and loyalty among current customers. Negative reviews from customers on digital platforms such as Google Maps, regarding unfriendly staff attitudes, lack of information, and slow response to complaints, suggest weaknesses in service quality and perceived value. This study aims to analyze the influence of service quality and perceived value on customer loyalty, considering customer satisfaction as a mediating variable. The research employed a quantitative approach involving customers of pawn products at Pegadaian Malang Branch. A total of 155 respondents were selected using purposive sampling. Data analysis was conducted using Structural Equation Modeling–Partial Least Square (SEM–PLS). The results show that service quality and perceived value have a significant positive effect on customer satisfaction and loyalty. Furthermore, satisfaction partially mediates the influence of both independent variables on customer loyalty.