Tools to grow your business globally.

Google: Tools to grow your business globally.

Imagine you’re a men’s tailor in Bangkok, and you sell custom suits to travelers passing through Thailand. You start a website to sell your suits online and begin to notice that the majority of your website traffic comes from overseas. How do you respond to this international demand?

Businesses of all sizes face a number of obstacles when they want to expand internationally. First, they must identify the right market to sell their products or services, such as custom men’s suits. Then they have to create versions of their website and ad campaigns in the language of the market they want to reach. Finally, and perhaps most importantly, they need to reach new customers who may be interested in their products and services.

Starting today, businesses can access a number of new resources from Google to help them overcome these obstacles and start growing internationally. Google launching a new website, called Google Ads for Global Advertisers, which will serve as a central hub for Google’s tools and tips for businesses looking to expand to foreign markets. This website pulls together resources for businesses to find the right market for their products and services, translate their websites and ad text, find new customers with relevant online ads, and understand options for international payment, shipping and customer service.

Google also introducing Global Market Finder, a new free tool to help businesses identify markets with high demand for their products or services. The Global Market Finder automatically translates your keyword—for example, [business suit]—into 56 languages and then uses Google search trends data to see where in the world people search for your product or service. It helps businesses evaluate new markets by showing the volume of local searches, estimated price for keywords and competition for each keyword in each market. With this tool, businesses can answer questions like “how competitive is this market?”, “how does demand in one country compare to demand elsewhere in the world?” and “how much would it cost to start advertising in this new market?” You can read more about these new tools on the Inside AdWords blog.

Google has already helped hundreds of thousands of businesses reach customers in foreign markets. From a mosaic company in Lebanon to a bespoke shoe retailer in Sydney, a tech support company in India and a bed and breakfast in Poland, tools like AdWords have helped businesses reach new customers and drive traffic to their websites.This new website and tools will encourage even more businesses to expand internationally, whether you’re a small business testing a single market for the first time or a mid-size company advertising your products to an entire region. 
After all, there are more than 1.9 billion consumers online.

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Retail: Watch Industry

Watch cos want cap relaxed on FDI in retail:

It is now the turn of the watch industry to push for relaxing the foreign direct investment cap on single brand retail.

The timewear industry has said FDI restrictions are not allowing international brands to have complete control over retailing and hence posing an impediment to its growth.

The All India Federation of Horological Industries and Technopak Advisors, which released a white paper on the Indian watch industry, also said the high duty on imported watches, grey market and taxation structure could prohibit the industry's growth.

The last mile connectivity to the consumer is provided by the retailer. FDI restrictions are not allowing international brands to have complete control over retailing.

Subsidiary companies cannot invest due to regulatory restrictions and this could be an impediment. Fresh money inflow in the market shall lead to better distribution and marketing of brands.

‘Modern retail '

modern retail will be a great enabler as it triggers impulse buying behaviour.

Currently, 51 per cent FDI is allowed in single brand retail and 100 per cent in cash and carry. It is banned in multibrand retail.

Stating that the Rs 4,000-crore watch industry could grow to a whopping Rs 9,000 crore in three-five years, The watch market in India is expected to grow between 10 and 15 per cent annually.

The white paper also sought lower import duty on luxury watches and rationalised taxation structure.

It said factors such as growing economy, increasing consumerism, strong middle class and a large number of high net worth individuals would favour the growth of the market.

The industry has to invest in brand building while the government must recognise the potential of the industry in becoming a manufacturing hub for watches and watch components.

Only 27 out of 100 people in India wear a watch today. The industry would ideally like the number to move to 70 in the next couple of years. Industry need to learn from sectors which have grown due to duty rationalisation and excise benefit.

More jobs

According to the report there is an opportunity to generate additional total employment of around 80,000 people.

It also said employment in watch retail can reach up to 2.15 lakh people in the next five years.