AbstractThe concept of consumer “loyalty” (i.e., preference for a particular store or brand) is intriguing to marketing scholars and practitioners. Research in this area would be enhanced by the acceptance of an operational measure of consumer loyalty. Loyalty appears to be a tri‐dimensional concept; per cent of budget, allocated to the store or brand, amount of switching, and number of alternatives explored have been used to measure loyalty. Consequently, the authors propose a “loyalty index” which combines these three measures. An empirical test of the proposed index showed that the index did discriminate among degrees of consumer loyalty, and was related to consumer psychological characteristics in a manner similar to that of the generally used single measures of consume