Abstract: The static studies on main factors of customer loyalty have been very rich, however it is lack of the dynamic research on the formation process of customer loyalty based on the dynamic effects of time. Under the background of online repurchase, It is found that the dynamic formation mechanism of customer loyalty through the data analysis of 383 paired samples. The first time 493 valid questionnaires are obtained; the second time 383 paired-matched questionnaires after 3 months are got. It reveals that a single phase satisfaction has positive effect on loyalty; Under the dynamic effects of time, the role of re-purchase customer satisfaction acting in the formation process of loyalty is significant mediator; Based on the second shopping experience, the more important conclusion is that satisfaction on customer loyalty's form has a recursive impact, especially the first satisfaction experience; then the formation mechanism model of customer loyalty is built on satisfaction, and it provides a new angle for customer loyalty study.

Key words: customer loyalty, customer satisfaction of repurchase, mediator, formation mechanism