Retail Interview Prep SessionNovember 2018

MBA Career Management

Agenda

• Retail Recruiting• FRP Interview Schedule• Current Job Listings (Non-OCR)• What to Expect for Non-OCR in the Spring

• Retail Interviews• General Tips from MBACM• Typical Questions with Frameworks

• Resume Walk-Through, Behavioral, Mini Cases• Follow-up Post Interview

• Timeline for FRP Interview Prep• Enterprise Recruiting Resources & Tips

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Second Year Panel

Farah ViraniGoogle (Hardware)

Strategic Initiatives MBA Intern

Melina FlabianoLola

Operations Intern

Tamar LevineWayfair

B2C Sales Strategy and Analytics

FRP On-Campus Retail Interview Dates

10 11

14 15 16 17 18

January 2019Thursday FridayMonday Tuesday Wednesday

Earliest Travel Interview Day

Earliest Offer Day

Current Retail Job Listings (Non-OCI)

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Employer Job Title LocationApplication

DeadlineSoCoolKids Marketing Executive 12/1/2018Nike, Inc. Strategic Planning Intern Beaverton - OR 12/3/2018Amazon Amazon MBA/Master's Level Opportunities (Internship) Seattle - WA 12/5/2018

Walmart eCommerce2019 MBA Summer Intern - Analytics Forecasting, Retail Core Engine San Bruno - CA 12/12/2018

Walmart eCommerce2019 MBA Summer Intern – Product Manager Growth & New Ventures, Sam’s Club San Bruno - CA 12/12/2018

Walmart eCommerce2019 MBA Summer Intern - Product Manager Home Vertical, Customer Experience San Bruno - CA 12/12/2018

Walmart eCommerce2019 MBA Summer Intern - Product Manager Online Grocery, Customer Experience San Bruno - CA 12/12/2018

Walmart eCommerce2019 MBA Summer Intern - Product Manager Search, Customer Experience San Bruno - CA 12/12/2018

Walmart eCommerce2019 MBA Summer Intern – Product Manager Supply Chain, Sam’s Club San Bruno - CA 12/12/2018

Walmart eCommerce2019 Summer Intern - Product Manager End-to-End Product, Customer Experience San Bruno - CA 12/12/2018

The Estee Lauder Companies Finance MBA Summer 2019 Internship New York - NY 12/14/2018Nike, Inc. Nike Analytics Intern Beaverton - OR 12/14/2018

Nike, Inc.Nike Analytics Intern - Global Experience Research Manager Beaverton - OR 12/14/2018

Rakuten, Inc. Rakuten MBA Summer Internship - 2019 San Mateo - CA, Tokyo - Japan 12/14/2018Under Armour Rookie, 2019 Summer League Internship - MBA Baltimore - MD 12/14/2018Walmart Stores, Inc. Walmart E3 Finance & Strategy - MBA Internship Bentonville - AR 1/9/2019L'Oreal, Inc. 2019 L’Oréal Marketing MBA Summer Internship New York - NY 1/31/2019Ask Consulting Retail Strategist Flexible 2/26/2019

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Sep Oct Nov Dec Jan Feb Mar Apr May

Timing of Non-OCI Retail Internship Job Listings (2017-2018)

# of

Job

Pos

tings

Tips for Non-OCI Job Listings

• Apply ASAP – most job board postings are ROLLING

• CareerPath Job Postings are NOT your only options

• Look at company job boards for firms you are interested in and apply directly

• Attend Spring networking events: Retail Conference, Spring Networking Expos

• Search for MBA internships on LinkedIn

• Find contacts (CareerPath, Offer Directory, Alumni Directory, LinkedIn) and proactively reach out

• Wharton MBA and undergrad alumni

• Wharton classmates who came from companies of interest

• Alumni from your undergraduate institutions and any other affiliations

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Interview Prep Resources

• MBACM Online Interview Resources: workshops, resources & tools, FAQs, policies

• Mock Interviews with 2Y Career Fellows [sign-up link]

• InterviewStream (video interviewing platform)

• Retail Club Interview Question Database (see Club newsletter)

• CareerPath Resource Library (company-specific interview information)

Retail Interview Tips

• Do your homework• Research the company/brand, know 2-3 current trends/news stories • Visit stores & websites, talk to sales associates, have an opinion• Pay attention to culture of company

• Demonstrate passion and be humble• Show your understanding of the industry and how it’s changing• Have a compelling authentic story about why company X and the type of role

• Prepare 6-8 accomplishment stories for behavioral interview questions• Retail Skills: Cross-Functional Teamwork, Analytical Skills, Leadership, Creativity• Consider the differences in interview questions by function• Know the 2-3 key takeaways you want the interviewer to remember about you • Make your stories relevant, memorable and concise

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Retail Interview Tips

• Practice• Out loud, in 1Y peer groups, do mock interviews with Career Fellows, 2Ys, advisors• Interview Stream• Look for sample questions in the Retail Club Interview Database, Marketing Club

Interview Database, and CareerPath Resource Library (for Big Tech retail firms)

• Dress for the role (Retail Interview Attire Guide)• Estee Lauder – polished and professional • Nike / URBN / Startups – brand appropriate • Amazon / Apple – tech industry interview

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Sample Retail Interview Questions

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Category Questions

Career Rationale

Tell me about yourself/Walk me through your resume Why retail/beauty/fashion? Why company X? Why are you interested in X role (e.g. finance, merchandising, marketing,

strategy)? Would you be willing to work in a store on the shop floor? How do you feel about working in X city? Are you open to working internationally? Describe your ideal work environment.

Company/ Industry

When were you introduced to our brand? Have you had a chance to visit a store/website to examine our

product assortment and layout? What observations have you made?

What trends have you seen in the industry / in our category? What retailer do you think is particularly successful? Tell me five retail companies that you think will continue to be successful

in the long-term and why. How do our products compare against our competitors? What ad of ours do you like the most? The least? What do you think of our social media strategy? What have we done well and what can we do better?

• Tell me about yourself = Walk me through your resume

• Recruiters want to know:

1. Who you are and how you got to where you are today

2. Why did you make these decisions

3. How your skills, experiences and motivations relate to the job

• Be concise and relevant

• Focus on your transition points – highlight “why”

• End with why you are interviewing for the specific company

• Be prepared to discuss everything on your resume

Resume Walk-Through

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Demo

• Walk me through your resume.

• Why Retail?

• Have you had a chance to visit a store // our website to examine our product assortment and layout? What observations have you made?

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Behavioral Questions: “Tell me about a time…”

STAR Framework

Situation• Describe the context of a specific event or situation from your past• Establish big picture and background information• Provide enough detail for interviewer to understand the situation/problem

Task/Action

• Describe the task or goal and the action you took • Be structured in your response (e.g. “there were three main things I did to

solve the problem”)• Make sure your actions illustrate the attribute you are trying to communicate

(e.g. if it is about leadership, show how you have the attributes of a leader –set vision, motivate others, etc)

• Use more “I” than “we” language, even if discussing a group project/effort• Don't tell what you might do, tell what you did

Result

• What happened? Quantify your impact• What did you accomplish? • What did you learn? • How does this experience tie you to this role?

Assumption: Past behavior is the best predictor of future behavior

Sample Behavioral Interview QuestionsCategory Questions

Influence/ Communication

• Tell me about a time when you were successful at changing someone’s mind

Ambiguity • Tell me about a time you were part of a team that had no leader or an ambiguous leadership structure

Cross-functionalTeamwork

• Tell me about a time you had to work cross-functionally to drive an important result

• Tell me about a time you had a conflict or disagreed with someone

Problem Solving/Analytics

• Tell me about a time when you had to analyze a complex set of data/information and make a strategic recommendation

• Tell me about a time when you had to work with a limited amount of data

• Tell me about a time you failed

Leadership • Tell me which three characteristics you think make a great leader and then tell me about a time when you exhibited all three

Creativity • Tell me about a time when creative thinking helped you generate ideas for improving the business

• Tell me about a time you were the most innovative

Demo

• Tell me about a time you had to work cross-functionally to drive an important result.

• Tell me about a time when you had to make a recommendation with a minimal amount of data.

Retail Mini Cases: Overview

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Retail mini-cases are NOT the same as a consulting case• Present a plausible solution based on industry or functional knowledge

• Typically 4-6 minutes

Focus on demonstrating:• Problem solving: Structured thinking and creativity

• Knowledge: Industry knowledge / technical skills

• Communication: Collaborative, clear and concise

Types of Questions• Situational / Strategic:

• If we wanted to pursue a new target demographic (e.g. Hispanic women) how should we go about qualifying/quantifying the market?

• What current or recent retail trend do you think is relevant to our brand?

• Creative evaluations: Evaluate an advertising/social media campaign.

• Product evaluations: What is your favorite brand and why?

Mini Cases: Frameworks & TipsFrameworks for Answering Mini-Cases

• 4Cs Company, Competition, Customer and Consumer• 4Ps Product, Price, Place and Promotion• Consumer Segmentation Process Segment, Target and Positioning• SWOT Strengths, Weaknesses, Opportunities and Threats

Tips• Leverage frameworks – but don’t sound like a robot! • Explain your thought process. Ask questions and/or state assumptions• They are looking to assess: how you think through a problem, your

industry/company knowledge, understanding of the functional role, your creativity and ability to think on your feet

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Note: Case questions for Corporate Strategy positions are typically more similar to Consulting case questions, and should be prepped accordingly. Refer to the MBACM website and Consulting Club for interview resources.

Case Example

• eCommerce company:

You are merchandising a product and, based on reviews, you notice that people have not been receiving the product as advertised. How do you respond?

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Closing: Thank You and Follow-up

• Prepare thoughtful questions to ask the interviewer

• Finish the interview by reiterating your interest in the job

• Thank the interviewer

• Understand next steps in the interview process

• Follow up with a brief email

• Play back a key point you learned from the interviewer about the company or role

• State a specific topic and elaborate on your informed opinion

• Restate your interest in the job

• Update your advocates within the company about your interview and continued interest in the company

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Timeline for Retail Interview Prep

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Set the Stage: 2 months before Until

Interview

Prepare & Practice: One month Until Interview

Polish: 2 weeks before Until

Interview• Research Firm & Industry

• Pay attention to industry trends

• Visit stores / talk with sales associates; form opinions

• Know key news about your target firm(s)

• Focus on You• Develop 2-3 things you

want the interviewer to remember

• Decide on your 6-8 accomplishment stories

• Prepare• Review sample questions (use

Club question database)• Continue to follow company news

and industry trends• Review frameworks for mini-

cases and retail math• Determine competencies shown

in each accomplishment story. Put stories into STAR framework

• Practice • Why retail / role X / company X• Behavioral, mini-case and retail

math questions • 1Y Peer Groups and 2Y Mocks

• Seek feedback; concentrate on improving development areas (e.g. style, content, non-verbals, ability to connect with interviewer)

• Refine how you tell your stories – body language, tone, word choice

• Prepare questions for interviewer

• Decide what you are going to wear to the interview

Continue/Prep for Enterprise Networking

Enterprise Recruiting Resources & Tips• MBACM Workshops

• Navigating the Enterprise Job Search [Video / PDF]• The 2-Hour Job Search [Video / PDF]• Coming in January: 1/23 - Enterprise Recruiting Lab @ 2401, 1/28 - Engaging

with Startups, Online - Pitching an Internship

• Events• Feb 22nd Graduate Retail Conference• April 22nd San Francisco Networking Expo

• Use FRP “downtime” wisely• Develop / refine your enterprise job search plans• Start / continue networking… be purposeful

• Tips for Success:• Leverage Wharton network: peers, alumni, faculty• Get on firms’ radar early, and aim to build rapport and credibility through initial

conversations• Prepare to be on the ground often (Fridays in NYC)

Name of Presenter 22

Q&A

Retail Math

• Know key terminology and calculation formulas, including:• Mark Up%, Initial Mark Up%, Average Seasonal Stock, Average Yearly

Stock, Turn Over, Sell Thru %, Average Weekly Sell Thru, Gross Margin $, Markdown Rate %

• Sample Questions • Interviewer provides a small data set and asks you to calculate key

metrics like gross margin percentage and return rate

• Interviewer provides some numbers and asks you to calculate the additional % growth in sales necessary to make up for an increase in returns

• Interviewer provides inventory numbers and asks you to calculate how many units we would need to sell to achieve the weekly benchmark sell thru of 15%

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2018 Internship Offers by Sector

Big Tech35%

eCommerce18%

Food/QSR13%

Apparel/Footwear

10%

Other/Specialty9%

Off-Price8%

Beauty5%

Mass2%

* Class of 2019 data

Functional Breakdown of Accepted Retail Offers

* Class of 2018 and 2019 data

Note: Product Management and Operations/Supply Chain roles are driven by Amazon

2018 INTERNSHIPS 2018 FULL-TIME

Product Management

38%

Strategy/ Business

Development11%

Product/ Brand Marketing

9%

Operations/ Supply Chain

9%

Human Resource

Management9%

General Management

9%

Corporate Finance

9%

Other6%

Operations/ Supply Chain23%

Product Management

21%

Strategy/ Business Development

15%

General Management

12%

Other13%

Product/ Brand Marketing

8%

Analytics/ Data Science

4%

Corporate Finance

4%

Companies That Made Internship Offers in 2018*Preliminary Data as of August 2018

Apparel / Footwear Food & Bev General Merch/Dept Stores

eCommerce (Broad Platforms)

Other / Specialty

Levi Strauss

Nike, Inc.*

PVH Corp.

Rent The Runway*

Under Armour*

Yoox Net-A-Porter

Restaurant Brands International*

Imperfect Produce

HelloFresh*

Burlington Stores*

Walmart Stores

DICK’S SportingGoods

Amazon*

Wayfair

WalmarteCommerce

Apple, Inc.*

Burrow

Comcast (Retail)

Curology

The Estee Lauder Companies

Grove Collective

Helix Sleep

LOLA

Rocksbox

*Companies that are open to sponsoring international students to work in the US in 2017-2018Companies in bold are considered “mature” recruiters.

Source of Offers: 2018*Preliminary data as of 8/21/2018

Internship Full-Time

Note: Does not include Amazon or Apple Retail. “Other” includes students starting a new retail venture

Wharton Job -On Campus Recruiting

Wharton Job -Job Posting

Personal Networking

Connections

Career Fair

Other

Wharton Job -On Campus Recruiting

Wharton Job -Job Posting

Wharton Alumni Contact

Personal Networking

Connections

Career Fair

Timing of Retail Internship Offers: Class of 2019*Preliminary data as of 8/1/2018

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