Article on globalization...

E-commerce is flourishing impressively in English speaking countries, but a tremendous market is emerging outside of these countries, as people there are going online fast, especially in Europe and Asia.

In this article on globalization, we look at how the internet is creating a new style of international business.

A large export market exists in foreign markets, so going global is no longer considered as an option but a necessity for business survival. If a company has not developed a global strategy then it is probable that some of its competitors will have a plan to address this market, no matter what country they are located in.

Today, there are only 7 countries where English is spoken as the primary language, this accounts for some half a billion people, which represent 30% of the world's economy.

Companies that continue to target this overcrowded sector of the world market will be left behind in the new global order of business.

So it is interesting to note that the vast majority of U.S. and U.K. websites continue to address the various world markets as if they were all one enormous English speaking market.

Unfortunately, many business people consider international sales as an addition to their core business, and often miss the big picture. Without any translation to their website, it is possible to generate 20% of traffic from other countries, but this usually means other English speaking countries.

Europeans and Asians have used multiple languages for centuries when doing business with one another, recognizing that sales mainly occur in the language of the target market. It is a fact that people are four times more likely to buy a product is they are addressed in their own language. If you were looking for a supplier and you clicked on a website, which was written in a foreign language, would you contact them? Or would you just look for another site written in English?

80% of European-based corporate sites are multi-lingual, as apposed to less than 25% of U.S. and U.K. ones. Who do you think will have a better chance of capturing the international online market?

Article on Globalization - Conclusions...

Take international markets seriously in order to stay in the running. Competition is heating up very fast, and if you do not properly address foreign markets by incorporating professionally translated material into your marketing, then your competitors surely will... no matter which country they come from.