NFHS-6 data shows rising financial inclusion, digital access and decision-making power among women, a trend researchers say is increasingly shaping India’s next phase of consumption growth.
For decades, women have been regarded as the primary influencers of household spending in India. Increasingly, however, they are becoming consumers in their own right. Nearly 89 per cent of married women in India now participate in decisions relating to healthcare, major household purchases and family expenditure, according to the latest National Family Health Survey (NFHS-6).
This growing economic agency is expected to become a key driver of consumption over the coming decade. According to consumer-focused investment firm Fireside Ventures’ report, The Indian Consumer At 2030, female labour-force participation could rise from around 36 per cent in 2025 to 50 per cent by 2030. The firm estimates that rising female incomes could contribute as much as USD 300 billion in additional annual private consumption by the end of the decade.
“She works, spends, decides, and brands that solve for her time win her wallet,” the report noted.
Financial Inclusion Deepens
NFHS-6 highlights a significant expansion in women’s access to financial and digital tools. The proportion of women using the internet has nearly doubled to 64.3 per cent, compared with 33.3 per cent in the previous survey. Nearly 89 per cent now operate a bank or savings account, while 63.6 per cent own a mobile phone. The share of women receiving cash earnings for work has risen to 30.8 per cent from 25.4 per cent previously.
Educational attainment is also improving. The proportion of women aged 15–49 who have completed 10 or more years of schooling increased to 46.4 per cent from 41 per cent in NFHS-5. Researchers say this growing pool of educated women is feeding into higher workforce participation, greater financial independence and more sophisticated consumption choices.
Ecommerce Reflects Changing Buying Behaviour
“What NFHS-6 has highlighted at a macro level is something we are seeing reflected in actual shopping behaviour across GoKwik’s network. Between January and May 2026, women accounted for nearly 45 per cent of all unique ecommerce orders across tier 2 and 3 markets. In tier 3 towns alone, the number of unique women shoppers grew by 20 per cent by March,” said Chirag Taneja, Founder and Chief Executive Officer of GoKwik.
He added that women’s spending is expanding beyond traditional categories.
“FMCG has seen a more than 4,500 per cent surge in unique women customers on our platform, while beauty accessories are up nearly 200 per cent. This demonstrates that women are now using e-commerce not just for fashion, but to take ownership of everyday household and personal care decisions. While women have traditionally influenced up to 85 per cent of household purchase decisions in India, digital commerce is now empowering them to execute those decisions directly,” Taneja said.
He attributed part of the growth to the emergence of value-led e-commerce models designed for first-time shoppers in smaller towns.
“Smaller pack sizes and highly optimised order values are removing the initial hesitation for first-time buyers and welcoming a new generation of regional women shoppers online,” he added.
The quick-commerce segment, where women increasingly shop for daily essentials, recorded a gross order value of approximately Rs 64,000 crore in FY25, more than doubling from the previous year, according to a Research And Markets report published in April 2026.
A New Consumption Basket
The rise of the female consumer coincides with a structural shift in household spending patterns. According to Kotak Mutual Fund’s report, The Great Consumption Shift, Indian households are allocating a smaller share of expenditure towards staple foods and a larger share towards education, mobility, consumer durables, digital services and experiences.
“Traditional sectors such as FMCG and apparel remain deeply embedded in daily consumption and are unlikely to face structural disruption in terms of relevance. What we are highlighting is that as incomes rise, incremental spending increasingly flows into newer avenues such as experiences, electronics and other discretionary categories. That said, even within traditional sectors, opportunities remain strong through increased penetration and premiumisation,” Harsha Upadhyaya, Chief Investment Officer – Equity at Kotak Mahindra AMC, told BW Businessworld earlier.
Women are gaining influence in many of the fastest-growing discretionary categories, including jewellery, workwear, wellness, dermatology, nutrition and consumer durables. Fireside Ventures highlights a growing culture of self-investment among millennial women, particularly those aged between 28 and 40.
Spending on preventive healthcare, fertility services, wellness and nutrition has increased as more women delay marriage and childbirth while investing in careers and personal development. India now has around 2,500 fertility clinics, compared with nearly 300 in 2015, reflecting rising demand for reproductive and hormone-health services.
Beauty And Nutrition Drive Growth
Beauty and personal care remain among the biggest beneficiaries of rising female spending power. India’s beauty and personal care market was valued at approximately USD 31 billion in 2025 and is projected to reach USD 74 billion by 2035, growing at a CAGR of nearly 11 per cent, according to Expert Market Research.
Women account for the largest share of the market, with the cosmetics segment alone recording a female revenue share of 68.9 per cent in 2025, according to Grand View Research.
Fireside Ventures notes that one in two Gen Z women spends more than 20 per cent of her disposable income on beauty and personal care products. Meanwhile, skin and hair clinics are growing at 20–25 per cent annually in Tier-1 cities as consumers increasingly seek efficacy-led, dermatologist-backed solutions. Online channels now account for around 30 per cent of beauty market sales.
Nutrition is emerging as another major growth area. Better-for-you products on quick-commerce platforms recorded approximately 50 per cent year-on-year growth over the past year, according to Fireside Ventures. Two out of three millennial women are willing to pay a premium of around 15 per cent for cleaner ready-to-cook and ready-to-eat products.
The rural FMCG market, another beneficiary of rising female purchasing power, is projected to grow at a CAGR of 14.6 per cent, according to Acviss, supported by increasing workforce participation among women and rising disposable incomes in smaller towns.
The Gen Z Daughter Effect
The implications extend far beyond individual product categories. With nearly 89 per cent of married women now participating in key financial decisions, researchers say female incomes are increasingly influencing spending across travel, electronics, consumer durables and lifestyle categories, particularly in dual-income households.
Fireside Ventures also identifies the “Gen Z daughter effect”, whereby younger women influence brand discovery through social media and digital platforms, shaping household purchasing decisions beyond their own spending power.
Taken together, the NFHS-6 findings suggest that India’s next consumption wave will be driven not only by rising incomes and urbanisation, but also by the growing economic independence, digital participation and purchasing power of women across the country.
