Generations. Last four generations

Last four generations
Today purchasing-capable population is divided into three generations: The Baby Boomers, Generation X and Generation Y. A generation is all of the people born and living at about the same time. People of different generations have different values, buying power and attitude to brands. That’s why it’s important for manufacturers and advertisers to know to which generation their consumers belong.

Baby Boomers (1946-1964)
The generation was called like that because there were 72 million children born between 1946 and 1964 in the USA. Today it represents nearly 20% of the American public. Because of their numbers the baby boomers have a huge influence on economics. The generation isn’t focused on brands. The quality and reasonable prices are more important for them. Baby Boomers are very conservative. Because of these they don’t trust online shopping and new brands.

Generation X
The next generation is Generation X. The 17 million children were born between 1965 and 1978. The generation is much smaller than previous one. Moreover, they are more ethnically diverse and better educated. The majority of the people of Generation X are independent and well-off. They grew up in atmosphere where everyone looked the same, so, now they want to be unique. It is the first generation which was grown up with computers. However, they try to avoid only shopping and prefer to shop in “live” stores. Generation X chooses places that give an opportunity to buy everything at once, because time is valuable for them.

Generation Y (Millennials)
Generation Y is the 60 million children born between 1979 and 1994. Marketers haven't been given an opportunity like this since the baby boom. They are marked by a distinctly practical worldview. Raised in dual income and single-parent families, they've already been given substantial financial responsibility. They are less brand conscious but more influenced by the Internet. In advertisement Generation Y appreciates the truth, humour and irony. What is interesting is that they are more likely than any other generation to remain loyal to a brand because of its loyalty rewards.

Generation Z
The generation of people that were born between mid-1990s and early-2000s. they are extremely influenced by the Internet and social media. They are using technologies since their birth. The technologies and the Internet are very significant part of their lives. The generation values fun a lot. That’s why they don’t like traditional way of advertising and advertisers should find new platforms and forms of advertisement to influence on Generation Z minds. The generation is very brand conscious. The brands of your clothes, phone, car, etc. show your status, class and help to fit in within an affluent group of peers.