I'm probably not the most fair contributor as I was a "non-traditional" student. I had a LOT of retail experience, as in YEARS.
For me, the process went "tattoo" interview, general experience interview, then a period of torture before getting an email asking me to set up a time to interview with the area managers for the retail MI. They had to reschedule and I wound up sitting in my car while my DDs were in music class on my cell phone. They had technical difficulties and lost my call in the middle, which was nerve-wracking, but it wound up OK. I was given a deadline by which I would hear something. I learned that the deadline was kind of like pirate code, more guidelines than rules.

New deadlines came and went and I finally got an email telling me that the MIs were "no longer available" (this was during the market crash).
I wound up going on the CP from Jan-May. In March, I was contacted by the PI office to see if I would be interested in an MI *IF* something came available. I went through the application process again, but did NOT receive a call for an interview (which was upsetting as I was watching others get called) On April 22nd, Earth Day, as I was walking into the AK w/ my DDs, I got The Call offering me the retail MI. Guess they based it on my initial interview/interest.
Just so you know, there were NO opportunities post-MI, absolutely 0 openings. Some MIs extended, I was not eligible since I'd done the CP the same year. Some MIs went to seasonal or part time hourly, but were put in the LCC (leadership casting call) in case there was an opening. I happened to be the right person in the right place at the right time and was offered a part time statused Duty Manager role at my resort. It was a not-to-be-passed-up opportunity as I am now statused and can only go up from here.
Like I said, my story is quite unique, but maybe it will give some insight.