Partnering for the Future

The Florida State UniversityRetail Merchandising and Product Development

Ann Langston, Center DirectorDr. Judy Miler, Professor and Internship Coordinator

October 25-26, 2011

Agenda

U.S. Retail Industry Data

The Retail Merchandising and Product Development Department and Center Overview

Educational Curriculum Study

The Internship Program

U.S. Retail Industry Data

Retail connects

the economy!

National Retail Federation 325 7th Street NW, Suite 1100 Washington, DC 20004 www.nrf.com

U.S. Retail Industry Data

Retail means jobs!

Florida ranks # 3 in retail’s total impact on a state (after California & Texas)

Agenda

U.S. Retail Industry Data

The Retail Merchandising and Product Development Department and Center Overview

Educational Curriculum Study

The Internship Program

The Retail Center

Created in 2006

Provides a channel for communication and exchange between the retail related industries and FSU’s Retail Merchandising and Product Development majors, plus affiliated faculty members

Part of the Retail Merchandising &Product Development Department (RMPD) in the College of Human Sciences (CHS)

The Retail Center Members:

Aveda, The Salon People

Chico’s FAS, Inc.

Florida Retail Federation

Home Shopping Network

JC Penney

KIA Autosport

Kohl’s

Lectra

National Retail Federation

Office Depot

Macy’s

Toys “R” Us, Inc.

Retail Merchandising and Product Development

Program Strengths

RMPD has one of the largest retail merchandising programs in the nation

Nationally recognized

Outstanding corporate members

It’s all about attitude… “On-purpose retailers”

Retail Merchandising and Product Development

Program Strengths

Providing leadership opportunities:

Participation in National Retail Federation

Student panel with Florida Retail Federation

Florida Retail Masters Student Project Contest

ACRA Charrette

Partnership Projects—”NowBrow”

Cotton Incorporated Grant

Retail Merchandising and Product Development

Program Strengths

Leadership opportunities through Campus Organizations:

AATCC (American Association of Textiles, Chemists & Colorists)

Miami Fashion Week

CMA (Collegiate Merchandising Association)

Clutch Magazine

Fashion, Inc. (Fashion Incorporated)

Fashion Week at FSU

Retail Merchandising and Product Development

Program StrengthsIntegrated Textile and Apparel Expertise--

Product development, soft goods analysis, & quality control.

Integrated managerial and operational education--Quantitative merchandise management, planning, & allocation.

Retail Merchandising and Product Development

Program Strengths

Retail management, forecasting, global sourcing, & leadership. (The New Office Depot Technology Complex in the William Johnston Building)

Retail Merchandising and Product Development

Program Strengths

Inventory analysis, floor merchandising & retail strategies.(The new Macy’s Merchandising Lab in the William Johnston Building)

Agenda

U.S. Retail Industry Data

The Retail Merchandising and Product Development Department and Center Overview

Educational Curriculum Study

The Internship Program

Survey-Major Questions Measured

• Do universities really understand what companies want and need in new hires?

• Do retail companies really understand what universities are doing to shape future retail leaders?

• How can retailers and Florida universities partner to develop our future retail talent?

Survey of Employers Wants/Needs

The National Association of Colleges and Employers (NACE) annually assesses employer wants and needs across industries.

NACE categories considered when selecting our survey questions:

Personal characteristicsKey skillsAreas of knowledgeDifficult characteristics to find“Survival skills”How retail hiring needs differHiring issuesTalent strategiesRecruiting sources

Retailers:

Strong work ethic

Communication skills

Team skills

Initiative

Interpersonal skills

NACE:

Communication skills

Strong work ethic

Initiative

Interpersonal skills

Problem solving skills

Survey Results

Survey Demographics

140 surveys/38 responded—a 27.1% response rate (above average for corporate research)

Demographics of respondents:

Included management, recruiters, & human resources

Majority had 10 years or more of retail experience

Represented a broad range of retail establishments (13 different types)

Company size from 2-300,000 employees (majority were over 50,000)

Sales from $275 K to $60+ B (majority had $1 B or more)

Survey Results: Open-ended Questions

• 3-5 personal characteristics:Initiative, flexibility, positive attitude, integrity, confidence, and work ethic.

Interpretation: a go-getter with integrity.

• 3-5 key skills:COMMUNICATION/WRITTEN & VERBAL!!!!!Team work, leadership skills, analytical skills.

Interpretation: people skills first, business 2nd.

Survey Results: Open-ended Questions

• 3-5 areas of KNOWLEDGE:Leadership strategies, merchandise math, business analytics.

Interpretation: being able to generate and apply business strategies.

• Difficult to find in a new hire:Work ethic, ability to develop and grow within the organization, willingness to relocate.

Interpretation: grasps the retail industry and its demands.

Survey Results: Open-ended Questions

• Skills vital to “survival”:Adaptability, work ethic, flexibility, initiative, communication, customer focus, desire to learn.

Interpretation: be ready for the dynamic retail environment.

• Wants/needs that differ in retailing:Confidence, adaptability, customer service.

Interpretation: meet people’s needs—customers’ and the organization’s—in the midst of chaos.

Survey Results

• Critical new hire talent issues:People development, retaining top talent, developing leadership, attracting new talent.

Interpretation: the challenges appear to be developing current personnel.

• Where are companies weak on their talent strategies? Mapping career paths, lack of awareness of competitors, developing skills for advancement, and tying performance to rewards/recognition.

Interpretation: companies are not making it clear what employees need to do to be successful.

Survey Results

• Talent recruiting sources:Developing/training existing personnel, recruitment from competitors, recruitment from top schools

Interpretation: there appears to be a disconnect between what is being indicated here and the talent issues/talent strategies—between what is said and what is being done.

• Comments:One: Investing in people pays off if done well!

Survey-Major Questions Measured

• Do universities really understand what companies want and need in new hires?

• Do retail companies really understand what universities are doing to shape future retail leaders?

• How can retailers and Florida universities partner to develop our future retail talent?

Agenda

U.S. Retail Industry Data

The Retail Merchandising and Product Development Department and Center Overview

Educational Curriculum Study

The Internship Program

Internship Program Strengths

Required internship (Fall and Spring)

Elective summer internships

Four decades developing future retail leaders

100% placement/Database

250 interns per year

Internship Program Strengths

Over 300 Corporate Partners!Department Stores:Macy’s, Stein Mart, Sears, Barney’s, Dillard’s, Neiman

Marcus, Nordstrom, Kohl’s, Bergdorf Goodman, Henri Bendel, JC Penney, Belk

Big Box Stores/Mass Merchants:Office Depot, Target, Wal-Mart, Sam’s Club, Toys “R” Us

Brands/Designers:Ralph Lauren, Tommy Hilfiger, BCBG, Betsey Johnson,

Escada, French Connection, Liz Claiborne, Gucci, Kate Spade, Michael Kors

Internship Program Strengths

Specialty Retailing:Chico’s, Abercrombie & Fitch, American Eagle, The Buckle,Fossil, Gap, Banana Republic, Disney, Universal Studios,Talbot’s, Aeropostale, Urban Outfitters, Hard Rock

International

Industry Services and Other Associations:Florida Retail Federation, Cotton, Inc., BRAG, Apparel

Markets, Public Relations

Media:Teen Vogue, Fairchild Publishing, Follet, GQ, Glamour,

Harper’s Bazaar, Women’s Wear Daily, MTV

Internship Program Strengths

Atlanta

Dallas

Ft. Lauderdale

Jacksonville

London

Los Angeles

Miami

Milan

New York

Orlando

Palm Beach

Paris

Pensacola

Tampa

Exciting Placement…That often leads to entry management positions

Internship Program Strengths

In- store managers

Sales representatives

Fashion assistants

Special event coordinators

Brand/product developers

Media assistants

Quality controllers and assessors

Marketing/Public Relations

Buyers/Merchandisers

Planners

Showroom sales reps

Merchandise coordinators

Public relations representatives

Stylists

Visual merchandisers

Apparel designers

Internship Template

There are six key components of a successful internship:

• Setting Expectations

• Goal Setting

• Assignment of Activities

• Mentoring, Coaching, & Company Culture

• Contracts

• The Evaluation Process

Internship Template • Setting Expectations

Companies and students need to clarify their expectations for internships

• Goal Setting Develop and plan with set student and company goals

• Assignment of ActivitiesActivities that meet the goals are set for the student and company

• Mentoring, Coaching, and Company CultureProvide the opportunity for companies and students to “try before you buy.”

• ContractsTerms of the internship are negotiated by both the intern and the company

• The Evaluation ProcessA mid, final, and self evaluation should be administered

Questions?

Thank You!

The Florida State UniversityRetail Merchandising and Product Development

Ann Langston, Center DirectorDr. Judy Miler, Professor and Internship Coordinator

October 25-26, 2011