Title: Comparison of Four Famous Fashion Retailers
Author: Amisha Poojari
1 F3 2023-2024 – 021330024049, ITM Business School, Kharghar, Maharashtra, India
Introduction: Zara is a global fashion retailer recognized for its fast-fashion model, offering trendy clothing and accessories for all ages. H&M a Swedish retailer known for stylish, affordable fashion and a commitment to sustainability across diverse clothing lines. Gap is an American brand famous for its casual style and classic aesthetics, providing a wide range of apparel for the entire family. Mango a Spanish fashion brand that offers trendy clothing and accessories, highlighting Mediterranean influences for modern men and women.
Objective: To compare the four famous Fashion Retailers
Data Collections: Student from ITM were told to rate the four fashion brands from the scale of 1 to 10 were 1 being the lowest and 10 being the highest using the google form and then one way ANOVA was calculated using the excel and data analysis tool.
Data Analysis:
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Anova: Single Factor |
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SUMMARY |
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Groups |
Count |
Sum |
Average |
Variance |
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Zara |
18 |
143 |
7.944444444 |
0.761437908 |
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H&M |
18 |
139 |
7.722222222 |
1.506535948 |
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Gap |
18 |
140 |
7.777777778 |
1.006535948 |
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Mango |
18 |
142 |
7.888888889 |
1.045751634 |
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ANOVA |
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Source of Variation |
SS |
df |
MS |
F |
P-value |
F crit |
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Between Groups |
0.555555556 |
3 |
0.185185185 |
0.171457388 |
0.915322821 |
2.739502302 |
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Within Groups |
73.44444444 |
68 |
1.080065359 |
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|
|
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|
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Total |
74 |
71 |
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The ANOVA table shows the results of the analysis. The between Group source of variation has a sum of square (SS) of 0.555555556 and 3 degrees of freedom (df) of 3, which results in a mean square (MS) of 0.185185185. The within groups source of variation has a ss of 73.444444444 and df of 68 which results in the MS of 1.080065359. The F-value for between groups source is 0.171457388, which has a very small f crit of 2.739502302. This indicates that there is a statistically significant difference between the means of the groups.
H0 = All are same
H1 = anyone of them is different
The P-value is 0.92 which is greater than 0.05 which means we have to reject alternate hypothesis (H1) with the degree of freedom 3 and 68.
Conclusion: H0 – All of the four famous Fashion Retailers is same