Over the past few years terminology, that some of us might not necessarily understand, has been used to describe people born in different times of the 20th and 21st century. Not only do the terms Generation(s) X, Y & Z determine when you where born but the traits of your personality, how you shop, family life, political interest and your views on specific topics and how others influence you.
In this blog, I will attempt to explain the differences between the three main generations that are often brought up in the media, (Gen' X, Y & Z)...
Generation X: (Some Space staff)
Born: 1966 - 1976
Current population (approx.): 41 million
Description: This generation is more often than none referred as the 'lost' generation where many children were exposed to an increase number in divorces within their families. Also, they were the generation with the lowest voting participation of any generation. Also generation X are also characterized by high levels of scepticism - having the attitude 'what's in it for me'. Moreover, the fact that this generation were exposed to high levels of divorce this ultimately influenced how they would shape their own families.
They were the most educated generation with 29% getting a bachelors degree, now forming families with higher levels of maturity, caution and pragmatism than their parents demonstrated. The main concern for this generation as parents is avoiding kids with broken homes, children growing up without parents and financial planning is key.
Generation Y: (Most Space staff)
Current population (approx.): 71 million
Description: They are known to be incredibly sophisticated technology wise, immune to most traditional forms of marketing. They are also more ethnically and racially diverse. Also, they are considered to be less brand loyal due to the introduction of the internet. They are often raised as dual income or single parent families.
Generation Z: (Space members)
Current population (approx.): 23 million and increasing rapidly
They will be the most diverse generation ever and influenced by high levels of technology giving an increase in more opportunities within different sectors for this generation. Gen Z will grow up with a highly sophisticated media and computer environment, more internet savvy. Generation Z has yet to fully establish itself...