The impact of sustainable development strategies on customer behavior: A case of vietnamese commercial banks

Abstract

This research endeavors to examine the implications of the implementation of the United Nations Sustainable Development Goals (SDGs) on the behavior of customers in commercial banks in Vietnam. To explore this impact, a comprehensive investigation involving 527 bank users in Ho Chi Minh City and Hanoi was carried out, via a survey encompassing three dependent variables: Trust, Satisfaction, and Loyalty. The study utilized both qualitative and quantitative methodologies and ascertained that economic and social SDGs exert influence on customer behavior. Initiatives aimed at promoting social welfare were found to play a significant role in shaping customer perception and fostering loyalty. Furthermore, the study demonstrated that responsible business practices, which include environmental management, fair labor conditions, and community engagement, are capable of enhancing customer satisfaction and loyalty. In order to comprehend customer response to the adoption of SDGs in the Vietnamese banking sector, the authors put forward a framework and methodology which are presented in five primary sections: introduction, literature review, methodological approach, results, and discussion. In conclusion, the study offers recommendations for future research and acknowledges its limitations, with the aim of contributing to the existing body of knowledge by providing valuable insights into how customers react to the adoption of SDGs in the Vietnamese banking sector.