In order to understand the investing habits of Indian women investors in 2021, various investment platforms and emerging cryptocurrency firms recently conducted surveys ahead of International Women's Day 2021. The major objective of the surveys was to understand the qualitative aspects of women's investing habits, goals and the way women across various age groups view the process of wealth creation in general. Investment platform 'Groww' recently conducted a survey over a period of three days, eliciting more than 28,000 responses from women.
Groww's survey revealed that 18 per cent of women have invested in insurance schemes. One in five women earning more than Rs 10 lakh per annum said they invest to save taxes. The survey also captured the insights from about 2000 women who do not invest. Out of these women, 49 per cent stated lack of knowledge as the major reason for not investing. Additionally, 32 per cent of women said that they do not have enough savings to invest. 13 per cent of the women also felt apprehensive about losing money in the market.
Meanwhile, India-based cryptocurrency exchange and wallet platform 'BuyUcoin' also conducted a survey to understand investing habits of women on BuyUcoin exchange. According to BuyUcoin, women who preferred investing in gold, have shown interest in digital assets over the past year.
- 1040 per cent rise in number of women investors on cryptocurrency exchange platform:
A recent survey conducted by the cryptocurrency exchange and wallet platform 'BuyUcoin' revealed that in the last one year, it witnessed an increase of 1040 per cent in women investors on its platform. Overall, 14.66 per cent of investors on BuyUcoin's platform are women. 35.73 per cent of women investors on the platform belong to the age group of 25-34.
- Younger women chose stocks over FDs:
According to Groww's survey, younger women investors in the group of 18-25 years were three times more likely to choose a high-risk, high-return asset class such as stocks over traditional investment options such as fixed deposits (FDs). The response shows a marked shift in the awareness level and risk appetite of women, especially younger women who are open to exploring wealth-generating avenues in capital markets, irrespective of their age and income.
- Gold retains its position:
The survey also showed that gold retained its position as a preferred investment option for women across age and income groups. However, the propensity to invest in gold increased slightly with an increase in the income bracket. Overall, 25 per cent of women invested in gold, while 40 per cent of women earning more than Rs 10 lakh invested in the yellow metal.
- Women who chose real estate and cryptocurrency:
Women making more than Rs 30 lakh per annum chose to invest in real estate as the sector requires a significant investment that people can afford when they attain a certain income level, according to Groww's survey.
An increase in income level also saw an increase in the number of asset classes in the investment portfolio. About six per cent of women making more than Rs 30 lakh per annum invested in cryptocurrency. In comparison, only four percent of women earning less than Rs 10 lakh per annum invested in cryptocurrency.
- Investing for personal goals - travel, higher education, household support:
Groww's survey revealed that 50 per cent of women investors cited personal goals as a reason to invest. 43 per cent of women said that they invest to support their families and add to the household income. More than 28 per cent of women in the 18-25 age group said that they invest to travel. Around 57 per cent of younger women are investing mainly towards their personal goals and 28 per cent are investing in higher education.
However, investment goals are changing with income and age. Almost 70 per cent of women in the Rs 30 lakh plus salary bracket cited early retirement as the major reason to invest. 64 per cent of women over the age of 35 cited marriage and children's education as the primary reason to invest.
"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,'' said Lalit Keshre, CEO, Groww.
''What is more encouraging is that women in the 18-25 age group have emerged as our most independent cohort, where almost 60 per cent of women in this age group say that they make the ultimate decision on their investments,'' he added.