Followers

21% of India | 252 million people

religious, familial,

traditional

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Watch Sangeetha's

Short Documentary

SANGEETHA'S STORY

Meet Sangeetha

 

“I don’t know about banking. My husband is here, he takes care of payments.”

Sangeetha is a mother of two. She lives with her family in her father-in-law’s ancestral home. Sangeetha had limited schooling and was married at 15-years-old. She has since been dependent on her husband for all decisions. Her husband plays a pivotal role in her life and she expresses how lucky she is to rely on him. Sangeetha has one aspiration which is her children’s education and welfare. While her husband has dreams of her tailoring business growing into a shop with two sewing machines and employees, she is only motivated by her children and their future. She sees tailoring as a means to this end.

Though Sangeetha relies upon her husband’s approval for household financial decision making, what finance-related matters would she be willing to take control of for her children’s future?

 
 

SEGMENT OVERVIEW

Followers,

by the numbers

Like Sangeetha, Followers are mostly rural middle-aged women who are average socioeconomic rank (SES) supported by others or in unstable occupations. Approximately 252 million (21% of the Indian population)

fall in this segment. 

Followers

India Average

GENDER (FEMALE)

71%

47%

AGE 35 OR BELOW

46%

32%

SOCIOECONOMIC (SES 3-4)

52%

54%

HIGH INCOME VOLATILITY

69%

53%

Followers have high income volatility and are poor savers due to their dependency on others for financial support. However, they worry less about the future, and are more likely to take hypothetical financial risks than seek certainty, especially to avoid a loss.

Financial Behavior & Attitudes

SAVINGS BEHAVIOR & ATTITUDES

Followers save money less frequently than the average due to their low access to banks and dependency on others.

SAVINGS ACCOUNTS

They are the least likely of all segments to have mobile wallets due to low access to smartphones and rarely use group savings channels.

BORROWING BEHAVIOR & ATTITUDES

Followers borrow infrequently and exhibit low borrowing dependability, when compared to the national average. They report a high-risk appetite and are most likely of all segments to take a gamble than choose certainty.

BORROWING ACCOUNTS

Like most other India segments, Followers infrequently borrow in group settings or using mobile services.

Followers

India Average

Explore our complete set of findings:

 

DESIGN OPPORTUNITIES

How might we create products and services

for Followers that...

Emphasize

Privacy

Build in opportunities to interact with agents perceived as “safe”

by the family

Leverage Family-Oriented Themes

Focus on collective

rewards for the

household, especially

with regards to children

Serve as Single

Use-Cases

Help Followers

build confidence

in managing finances

on their own

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 The Human Account is led, created and developed by Dalberg with Rockefeller Philanthropy Advisors, and funded by the Bill & Melinda Gates Foundation.

 

Local partners are Lagos Business School in Nigeria, Ashoka University in India, not-for-profit development finance company, Karandaaz in Pakistan, and research and advisory firm, Busara Center for Behavioral Economics in Kenya.