Generations X,Y, Z- Meaning, Similarities and Differences between them

Baby Boomers

Baby boomers were born between 1946 and 1964.

Gen X – Gen X was born between 1965 and 1979/80

Gen Y – Gen Y, or Millennials, were born between 1981 and 1994/6.

Gen Z – Gen Z is the newest generation, born between 1997 and 2012/15.

The term Generation Z describes the youngest people alive. It might change as they grow older and turn more adult.

Generation X Y and Z Timeline

Why are Generations Named after Letters?

The first term was Generation X. It described those born between 1965-1980. The previous generation was called the Baby Boomers. They were born between 1946-1964. i.e., after the Second World War.

This was when Americans gained prosperity. This caused a “baby boom.” Those who were born because of this are called the Baby Boomers.

However, those born after the Boomers could not be identified easily culturally. Actually, the term Gen X came into existence because it shows the characteristics of the generation which was undetermined.

Sources vary on who made it popular. It could have been Billy Idol, a novelist, or sociologists. After that, generations were counted alphabetically.

The generation after Gen X was called Gen Y. These are people born between 1981-1996 plus or minus a few years.

Why use the phrase Millennial for Generation Y?

The name “Millennial” is popularly believed to come from William Strauss and Neil Howe. The two of them came up with it in 1989 when the end of the millennium was around the corner. It featured greatly in people’s imaginations.

Generation Z comprises people born in the late 90s till now. There have been many other labels such as Zoomers, Gen Y-Fi, iGeneration, post-Millennials, and Gen Tech.

Difference between X, Y, and Z

Generation X

Gen X Birth Period: 1965 to 1979/80

Other Terms: ”Latchkey” generation, MTV generation

1. Media Consumption

Gen X has kept the practice of reading magazines, newspapers, tuning into the radio, and watching TV. They are said to watch around 165 hours of TV per month.

They can use digital platforms. They dedicate around 7 hours every week to Facebook. This is the highest for any generation.

2. Banking Habits

Gen X can use tech. They will study financial management online.

However, they like transacting face-to-face. They believe that banking should be in-person and that it shows faith in the brand.

3. Influences

The cold war coming to an end, an increase in personal computing, and feeling lost between the two large generations, COVID 19 Pandemic.

Generation Y

Gen Y Birth Period: 1981 to 1994/6

Other Terms: Gen Y, Gen Me, Gen We, Echo Boomers

1. Media Consumption

95% consume TV. However, Netflix is consumed more than cable for shows/movies. Letting go of cable for streaming services is popular.

Gen Y are cell-phones savvy as well. Although, 32% still buy on their PCs. They usually have many social media accounts.

2. Banking Habits

Millennials are less faithful to brands than generations that came before. They put stress on features and products mainly. They do not like inefficient or poor service.

3. Influences

COVID 19 Pandemic, Twin Tower attacks, the growth of social media and internet, The Great Recession

Generation Z

Gen Z Birth Period: 1997 to 2012/15

Other Terms: iGeneration, Post-millennials, Homeland Generation

1. Media Consumption

On average, this generation got their first cell phone when they were 10.3 years old. A lot of them would use their parents’ tablets or cell phones as kids. They have grown up in an extremely connected world.

They like using smartphones for communicating. On average, they spend 3 hours daily on their cell phones.

2. Banking Habits

Gen Y has seen what Millennials had to go through. So, they spend less. They do not keep debts and invest in accounts or services that help in that.

Debit cards are the most important for them, followed by mobile banking.

3. Influences

Seeing what their parents, i.e., Gen X went through financially, never knowing a country ever at peace, social media, and Smartphones.

Generation X, Y,  Z – Statistics

Generation X Y Z Statistics

  • In 2020, Millennials were the generation that spent the most. Their overall purchases came to a $1.4 trillion tab.
  • Millennials will get more than $68 trillion from Baby Boomer parents by 2030. This will make them the richest generation in American history.
  • Generation Z is close by. They are expected to earn $33 trillion by 2030. This will be more than 25% of income worldwide. They will cross Millennials the next year in terms of spending capacity.
  • Generation Z searches the most for data on the post-Millennial generation.

Most Popular Type of Celebrities by Generations

Most Popular Type of Celebrities by Generations

Famous People – Generation X

Famous People Generation X

1 – 60 of 394 Historically important and notable people from Generation X(Gen X), used to describe people born between 1965 and 1980. Ranked by their popularity on On This Day.

Famous People – Generation Y

Famous People Generation Y

1 – 60 of 224 Historically important and notable people from Generation Y(Gen Y), also known as the Millennial Generation used to describe people born between 1981 and 1997. Ranked by their popularity on On This Day

Famous People – Generation Z

Famous People Generation Z

1 – 25 of 25 Historically important and notable people from Generation Z(Gen Z), also know as the Post-Millennial Generation, used to describe people born between 1997 and 2012. Ranked by their popularity on On This Day 

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Runal Mehta

Runal brings in more than a decade’s worth of experience in the field of consulting and education. He loves writing research oriented articles at Digiaide.