What Women Want : A Peek Into The Investing choices of Women Investors from Maharashtra

A recent survey conducted by Groww—India’s fastest-growing investment platform aimed to understand women’s investing habits in India.

Groww to introduce ‘Groww Women’s Week’; to charge zero brokerage from women investors from March 8 to March 15

Maharashtra, 4th March 2021: India’s leading investment platform Groww recently conducted a survey to understand the investing habits of Indian women investors in the run-up to International Women’s Day on March 8 2021. The survey was sent to more than 2.5 lakh women and fetched more than 28,000 responses over three days. The most number of women investors were from Maharashtra, making 25 % of the respondents’ pool. Of these, 10% were from Mumbai and 5% from Pune.

The study’s objective was to understand the qualitative aspects of women’s investing habits, their goals, and how they view the process of wealth creation in general. 

On this occasion, Lalit Keshre – CEO, Groww said – “Even after 70 years of our independence, women’s participation in the decision making regarding investing is very low. We hope to reflect the shift in investment preferences, goals, mindsets, and roadblocks for women investors with this survey. We also captured how age, income, geography impact these differences.” 

He said to Prittle Prattle News “The encouraging insight from the survey is that among the women who are investing, a majority of them take their own decisions. Even though many of them discuss their financial choices with their families or partners, the final decisions are their own. It’s a remarkable shift from pre-conceived notions that men were the primary decision-makers even when it comes to managing women’s wealth. 

What is more encouraging is that women in the 18-25 age group have emerged as our most independent cohort, where almost 60% of them in this age group say that they make the ultimate decision on their investments. To encourage more women to invest, on the occasion of international women’s day, we are introducing ‘Groww Women’s Week’ wherein we’ll charge zero brokerage for women investors from March 8 to March 15.” 

Here’s a snapshot of the investment behaviour of women investors from the state of Maharashtra.

Taking a balanced investment approach 

The survey revealed that women investors from Maharashtra were somewhat balanced in their investment approach as compared to their counterparts from other states. While a large proportion of women chose high-risk high-reward asset classes like stocks (60%) and mutual funds (81%) a sizable percentage of women are also investing in safer investment options like FD (30%), Gold (28%) and PPF (23%). 

Investing with a vision

Almost 54% stated that they invest to fulfil their personal goals. After personal goals, 44% stated that they invest to support their families. Women investors from Maharashtra are also investing to fulfil their travel goals, with 29% citing this as their investment objective. 

Independent decision makers

Women investors from Maharashtra are quite independent when it comes to taking investment decisions. As high as 35% women stated that while they discuss investing with their dear ones, the ultimate decision of where and how to invest lies with them. A good 18% said that they handle their finances on their own and take investment decisions independently.

The insights reveal that not only are women investing with a vision but are also approaching their investments with a balanced, goal-oriented mindset. They are more independent in their decision making and are aware of the risk-return tradeoffs to achieve their financial goals. 

What’s holding back?

On the national level, the survey also captured the insights from about 2000 women who do not invest. Of these, 49% stated that lack of knowledge is their main reason for not investing. Further, 32% said that they don’t have enough savings to invest.13% of women also felt apprehensive about losing their money in the market. It indeed calls for further awareness and education of women on the importance of investing in building long term wealth. 

Owing to the awareness around financial products and the availability of apps that allow people to invest with ease, there has been increased participation from all genders and income groups. In this survey, 25% of women stated that consuming financial content online made them take the first step towards investing, and 22% said investment apps like Groww drove them to begin their investment journey. 

They are increasingly considering investments in equities as an opportunity to build wealth in the long term to meet their personal and financial goals. Investing apps like Groww that offer hassle-free investing and educational resources have been among the most prominent allies in increasing women’s participation in investing.

By Sachin Kulaye

This article was shared to Prittle Prattle News as a Press Release.

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