Case study · Product strategy
Increasing investment in high yield instruments
86% of eligible people in India invest in low yielding instruments. This study asks why, and proposes two features for Groww — a risk-free Trainer and a structured Resources library — prioritised with RICE.
The problem
Safe money, falling behind inflation
Adults with internet access and money to invest still park it in PPFs, FDs and ULIPs — returns that trail the inflation growth rate, which means losing money in real terms.
3%
of the Indian population invest in the stock market
95%
of Indian families prefer to invest in FDs
10%
of households are eager to invest in stocks or mutual funds
80%
of retail investors come from only 10 states
Who we're designing for
Personas
Mansi Patnaik, 50
Working professional (engineer) · invests in mutual funds
Has invested in mutual funds for four years with an advisor's help. She waited this long — and still avoids the stock market — because her husband once lost most of his money there.
Pain points
- Limited financial knowledge and difficulty managing instruments like stocks
- Risk aversion, especially post-Covid, because poor decisions can mean heavy losses
Akshay Srivastava, 23
Medical student on internship · does not invest
His family prefers low-risk investments and advises him to do the same. Most of his stipend goes to daily expenses since he lives alone and avoids asking family for money.
Pain points
- Little knowledge of stocks, crypto and how to manage financial assets
- Not enough disposable funds to start investing
Research
Why Indians avoid high yield instruments
A survey of students and working professionals asked why they stay away, what would motivate them, and what already frustrates people who do invest.
- 42% of students and 20% of working professionals don't invest in any high yield instrument.
- Of those who don't invest, 66% of students and 67% of working professionals say they lack adequate knowledge of the financial market; 28% and 25% respectively find these investments too risky.
- Even among people who do invest and hit problems, 71% of students and 83% of working professionals still feel they lack adequate knowledge.
- 62% of everyone who invests still feels short on financial knowledge.
- 50% of non-investors say they might start if they had access to better quality resources.
- 35% want to invest and access information in the same place.
Sizing
Who this could actually reach
- Step 1
Start from 1 billion people; 40% middle and upper class are considered likely to invest (400M).
- Step 2
60% of those live in urban areas, where 80% have internet access; in rural areas 40% do.
- Step 3
70% of that base is above 18.
- Step 4
Extrapolating the survey: 60% cite a lack of resources, 25% are risk averse, 15% give other reasons.
Prioritisation
RICE scoring
Groww Resources
P0People who lack adequate knowledge of the financial market and want resources plus the option to invest in the same app.
R 107M · I 3 · C 80 · E 3
8,560
Groww Trainer
P1People who feel these investments are risky and want to try them without losing money.
R 45M · I 2 · C 100 · E 4
2,250
Solution 1
Groww Trainer
- A simulated investing experience — no real money, but listed stocks move at their real-time market prices.
- After login, users choose between creating a demat account and investing directly, or opening the Trainer widget.
- Gives a realistic sense of what investing on Groww feels like, reducing the initial apprehension people carry.
Solution 2 · P0
Groww Resources
- A new Resources widget on the Groww home screen navigation bar.
- Modules cover the basics of mutual funds and an elaborate course on why and how to invest in stocks, including the factors that move a stock's price.
- Each module has three levels — beginner, intermediate and pro — and the next level unlocks only once the previous one is finished.
- Each level carries 3–5 chapters, each with 8–10 articles pitched at that level.
- Users track progress per chapter, see articles read out of the total, and see estimated time left based on their pace.
- Finishing all levels of a module earns a certificate, giving a sense of achievement that motivates the next module.
How we'd measure it
Success metrics
User acquisition
- Monthly downloads after the feature launches
- Download-to-onboarded conversion after launch
- Users who find investing easier after using the resources
User activation
- CTR of the Resources widget on the navigation bar
- CTR of the first module on the Resources page
- Users completing more than two modules a month
User engagement
- DAU, WAU and MAU of the product vs the feature
- Time spent on Resources vs time spent in the app
- Stickiness (DAU/MAU)
User satisfaction
- UI intuitivity and clicks needed to complete an action
- Change in app store rating after implementation
- Survey feedback at the end of each module
Trade-off
Building this out could make the app bulky, and harder to use on low-end smartphones.
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