Retail Merchandising &Visual Display Internship Program
PROGRAM GOALS:
● Sell more jewelry while stocking less inventory. Using Big Jewelers Balance to Buy system.
● Create a working Visual Display system.
● Increase Gross Margin Return On Investment (GMROI) from 1.32 to > 2.0
● Reduce Aged Inventory from $210,000 to < $90,000
● Keep Aged Inventory less than 30% of Asset Inventory.
TERMS OF INTERNSHIP:
● 9 Months, School Year
● $16 per hour
● First month will be initial planning and redisplaying the store with assistance from the owner
● After the first month of training and onboarding, duties will be every other week for approximately 4 hours
REQUIRED READING:
●Complete Guide to Effective Jewelry Display by Larry Johnson. Available from Graham Jewelers prior to starting.
WHAT THE INTERN WILL LEARN:
● How to work in a team of professional retail environment with owners, salespeople, inventory managers, and goldsmiths
● Learn about the latest software and technology used today in the industry
● Learn about the information used to make decisions based on GMROI
WHAT GRAHAM JEWELERS WILL GAIN:
● Staying Relevant.
● Graham Jewelers will gain a young fresh insight to the current generation. Up to date and relevant display to better communicate to the consumer who GJ is and what we offer
● Better sell-through with less product leading to better profits and cash flow
● Reducing aged inventory leading to better cash flow
● Selling systems to help the salespeople become more efficient at selling
● Staff Meeting experience
INTERN TRAINING:
● General store layout and staff introduction
● Organizational Chart
● Balance to Buy inventory software
● The Four Formulas: Turn, Asset Turnover, GMROI -Gross Margin Return on Investment, & ROI - Return on Investment
● Visual Display Connecting instore display to Website, Social Media and Sales staff training
● General information about the jewelry industry and how Graham Jewelers designs makes repairs jewelry in Wayzata
INTERN TASKS:
● Re-display the store. Telling stories in the showcase about the product and company
● Create a display system that staff can set up easily and consistently on a daily basis. Security requires most displayed product to be removed from the showcases and stored in safes
● Work with our Social Media and website company to connect the story on all platforms
● Maintain the display throughout the school year
FOCUS ON:
● Programs that can be reordered
● Made by Graham Designs
● Bridal
● Diamond fashion
● Price points
SUPERVISION:
● The intern will be supervised by the owner of the store and will receive feedback
● The Inventory Manager & Store Manager will also give help and feedback
● The sales staff will give informal feedback by their ability to maintain the visual display program on a daily basis
● The Intern will coach the sales staff on maintaining the program
RESULTS:
• The results of the program will be measured by GMROI
Back To Top