Over 63 per cent of women in India aspire to start their own business, reflecting a strong desire for financial independence and self-reliance, a pan-India survey report titled 'PayNearby Women Financial Index (PWFI)' showed. The report showcased financial consumption by women at retail stores.
The survey was conducted among over 5,000 retail stores in the country and recorded financial transactions of women consumers as observed in those outlets.
The report highlighted that over 95 per cent of female customers preferred opting AePS for cash withdrawal. While cash remains the favored mode of transaction, with 48 per cent of women favoring it, Aadhaar-led transactions and UPI QR codes are also gaining momentum.
Notably, women aged 18-30, followed by 31-40, were found to be the most digitally adept, and showed a strong inclination towards financial transactions. 41 per cent of women surveyed mentioned that they do not use any payment app on their phones.
The PWFI report also noted the increasing adoption of online commerce (24 per cent) and online entertainment (18 per cent) among women. Online commerce saw a decent adoption among women at retail stores with daily groceries and household items (at 27 per cent) being the most commonly ordered category. It was followed by clothing and accessories and home and kitchen items at 24 per cent and 23 per cent, respectively.
Speaking about the findings Anand Kumar Bajaj, Founder, MD & CEO, PayNearby, said, "It is delightful to see that women in Bharat are asserting their entrepreneurial spirit more than ever with over 63 per cent seeking avenues for income augmentation. In the journey towards a nation's development, women should be equal stakeholders."