Start by opening a globe image.
Create a rectangular selection of the upper portion using rectangular marquee tool.
Press Shift+Ctrl+J to cut the selection under the layer to be cut and appear in a new layer.
You can see by toggling layer visibility that upper and lower portion of the globe appears in two different layers.
Create an elliptical selection using elliptical marquee tool.
Select the upper half and press delete.
Create a new layer and fill this elliptical selection with blue color.
Rotate the upper half of the globe and place as shown in the image below.
Create a duplicate of blue ellipse layer and rotate and place as shown.
Double click the ellipse layer and apply layer style as shown.
Move the layer and place as shown below.
Copy layer style from this ellipse layer and paste on the upper ellipse.
Insert a few product cutouts and place over the lower ellipse.
Create a circle using elliptical shape tool.
Select text tool and click on this circle. Type "Shop Around The Globe" with a nice font.
