generation z age range

What is the Generation Z age range? State of the credit union industry: 2020 pandemic edition, Consumers are still shopping for mortgages, 9 books every business leader should read this summer. Remember; these arbitrary generational cutoff points are just that. Oxford Living Dictionaries describes Generation Z as "the generation reaching adulthood in the second decade of the 21st century." As an example, 96% of Americans have a smartphone, but Gen Z (the youngest generation) is the highest user. The other fact to remember is that new technology is typically first adopted by the youngest generation and then is gradually adopted by the older generations. However, in the past year, the COVID-19 pandemic has become the great equalizer, as all generations have had to adapt to a new way of banking and living. Generation Alpha is the youngest, defined as the tech-savvy young children of Millennials. In fact, that’s the anecdotal origin of the term Gen X — illustrating the undetermined characteristics they would come to be known by. However, there is no widespread agreement on the exact line between the two generations. The starting birth years for those who fall into generation X have a very large span, with the birth years understood to range … While they might be the same generation, they have very different views and needs. Many of them grew up playing with their parents' mobile phones or tablets. A common source of confusion when labeling generations is their age. Long before this announcement, we at FutureCast had already outlined our own birth-year parameters for Millennials and Gen Z to help our … Shaping Events: The Great Recession, the technological explosion of the internet and social media, and 9/11. Most of them are the children of Generation X. This group, born between 1981-1996, has its own set of formative life experiences, just as every generation had before them. What's next on their financial horizon: This generation is experiencing the highest growth in student loan debt. Generation Z is composed of those born between 1995 and 2010, which means that the oldest are about 22 and are just entering the workforce. Shaping Events: Smartphones, social media, never knowing a country not at war, and seeing the financial struggles of their parents (Gen X). Other Nicknames: iGeneration, Post-millennials, Homeland Generation. No longer the new kids on the block, Millennials have moved firmly into their 20s and 30s, and a new generation … They are the first fully global generation , shaped in the 21st century, connected through digital devices, and engaged through social media. 1Nikitas, Stephen. The term “Millennial” is widely credited to Neil Howe, along with William Strauss. A Gen Zer is anyone born between 1995 and 2019. Trending Now. Nobody knows your community’s needs the way you do. Although Baby Boomers may trail Gen X and Millennials on native technology usage, the rate at which Boomers expand their use of technology is accelerated. Other Nicknames: Gen Y, Gen Me, Gen We, Echo Boomers. Banking Habits: Boomers prefer to go into a branch to perform transactions. Before we dive into each generation, remember that the exact years born are often disputed, because there are no comparably definitive thresholds by which the later generations (after Boomers) are defined. The children born as a result were dubbed the Baby Boomers. The reason is simple, generations get older in groups. 10 years from now, the priorities of Millennials will have changed — and marketing tactics must adjust instep. Earlier in 2019, the organization included the birth years for Generation Z for the first time. Other Nicknames: "Latchkey" generation, MTV generation. To date, the oldest millennial is 38 years old while the oldest Gen Z is 23. They have grown up in a hyper-connected world and the smartphone is their preferred method of communication. The Generation Z Market. Again, it’s important to emphasize that referring to a cohort simply by the age range gets complicated quickly. What separates Generation Y from X, and is Generation Z a thing? Here are some of the most important things. The Merriam-Webster Online Dictionary defines Generation Z as generation of people born in the late 1990s and early 2000s. We are going to take a look at how generations have changed … Topics: Regardless of your age, you will always belong to the generation you were born into. Generational cohorts are defined (loosely) by birth year, not current age. The preceding generation was the Baby Boomers, born 1946-1964. This also implies that millennials could wait longer and endure less entertaining situations than those from the gener… Generation Z is the most diverse subgroup in the U.S, with 52% identifying as non-Hispanic white, compared to 61% of millennials in 2002 (when they were in the same age range). Generation Z are the largest generation ever, comprising around 20% of Australia’s population and almost 30% of the world’s population. They're currently between 56-74 years old (71.6 million in U.S.), Gen X: Gen X was born between 1965 and 1979/80 and are currently between 40-55 years old (65.2 million people in U.S.), Gen Y: Gen Y, or Millennials, were born between 1981 and 1994/6. Other than being relatively close in age and both being technologically savvy, Gen Z is a very different and unique group compared to its Millennial counterparts. Generation Z refers to babies born from the mid-2000s through today, although the term isn’t yet widely used. Move over, Millennials: Generation Z is officially the most accurate label to describe the youth of today. It refers to those born between 1926 and 1945, so these are people who lived through World War Two. So. Despite being so traditional 90% of baby boomers have a Facebook account. can you rely on age ranges alone? Copyright ©2021 Kasasa, LTD. All rights reserved. Gen Z—those born between 1996 and 2014—makes up 24.3 percent of the U.S. population, according to U.S. Census estimates for 2016. Following the baby boomers, Generation X are born between the early-to-mid 1960s, and the early 1980s. Javelin Research noticed that not all Millennials are currently in the same stage of life. To understand Generation Z better, we surveyed 16,000 consumers across six countries—Australia, China, Indonesia, Japan, South Korea, and Thailand. They are currently between 8-23 years old (nearly 68 million in U.S.) They are currently between 8-23 years old (nearly 68 million in U.S.) With more Americans outliving their retirement fund, declining pensions, and social security in jeopardy, ensuring you can successfully fund retirement is a major concern for Boomers. Research. GenXers average net worth is around $288,700, but the median is $59,800. The Pew Research Center periodically updates the age ranges it uses to define the generational groups known as the Silent Generation, Baby Boomers, Generation X, and Millennials. At Kasasa®, we also partner with institutions like yours, providing our relationship platform, Kasasa, as a comprehensive strategy. Media Consumption: Baby boomers are the biggest consumers of traditional media like television, radio, magazines, and newspaper. While all Millennials were born around the turn of the century, some of them are still in early adulthood, wrestling with new careers and settling down, while the older Millennials have a home and are building a family. The dates given for Generation Z range from the mid-1990s through the second decade of this century, although precise years vary according to the source. Because of this financial instability, Millennials prefer access over ownership which can be seen through their preference for on-demand services. They want to avoid debt and appreciate accounts or services that aid in that endeavor. These demands put a high strain on their resources. But the generation that followed the Boomers didn’t have a blatant cultural identifier. Generation X: Born 1965-1980 (39-54 years old) Millennials: Born 1981-1996 (23-38 years old) Generation Z: Born 1997-2012 (7-22 years old) The share of Gen Z voters who are Hispanic is significantly higher than the share among other groups of voters. Those belonging to Gen Z were born from 1995 to 2012 while millennials were born from 1980 to 1994. Age Range by Generation. Generation Z, also called Gen Z or Zoomers, comes after Millennials and before Generation Alpha. Globally there are almost 2 billion of them. Gen Z starts from around 1996 till 2010 which means they are currently somewhere between 9 and 23 years old. Post World War II, Americans were enjoying new-found prosperity, which resulted in a "baby boom." The latter group has a credit history, may have their first mortgage and are raising toddlers. In short, no matter how many letters get added to the alphabet soup, the most important thing you can do is seek to understand the soup du jour for the type of consumer you want to attract. Generation Z Anyone born after 2000 is part of Generation Z. They’re the first group to grow up as digital natives, having the internet and smartphones from an early age. Depending on whom you ask, it was either sociologists, a novelist, or Billy Idol who cemented this phrase in our vocabulary. Generation Z. Not only are the two groups culturally different, but they’re in vastly different phases of their financial life. After all, every generation grows up. Marketing to young generations as a single cohort will not be nearly as effective as segmenting your strategy and messaging. generation z age range chart: millennials generation age range: millennials vs generation z age range: generation z age range pew: 12 3 4 5. 1 Georgia Results; 2 Trump Scotland; 3 Turbotax Stimulus; 4 Jacob Blake Case; 5 Life Alert; 6 That 70s Show Cast; 7 ProForm Treadmill; 8 Mississippi … The oldest Gen Zers in 2019 are 24 years old, according to Kasasa. 1. On 10-7-2017 we start to refer to Gen Z as "iGen" based on a book by Generation researcher Jean M. Twenge PhD. They’re useful terms for marketers and have a tendency to trickle down into common usage. What do you need to know about the kids in Generation Z? Each generation is preparing and saving for different life stages; be that retirement, children's college tuition, or buying a first car. The term “Millennial” has become the popular way to reference both segments of Gen Y (more on Y.1 and Y.2 below). Born: 1995-2012 Coming of Age: 2013-2020 Age in 2004: 0-9 Current Population: 23 million and growing rapidly. From there on it was all down-alphabet. Banking Habits: Since they are digitally savvy, Gen X will do some research and financial management online, but still prefer to do transactions in person. What's next on their financial horizon: Millennials are entering the workforce with high amounts of student debt. Are they really that different? Media Consumption: Gen X still reads newspapers, magazines, listens to the radio, and watches TV (about 165 hours' worth of TV a month). Millennials have an average net worth around $76,200, but their median net worth is only $11,100. This generation’s birth years range from the late 1990s to 2012. The organization cites important political, economic, and technological factors that helped them determine the cutoff from Millennial to Generation Z. Banking Habits: Millennials have less brand loyalty than previous generations. According to the Pew Research Center, Generation Z consists of the group of cohorts between 1997 and 2012. Boomers, Gen X, Gen Y, and Gen Z Explained. Gen Z is the most diverse and multicultural of any generation in the U.S. -- 55% are Caucasian, 24% are Hispanic, 14% are African-American and 4% are Asian. Generation Z is defined as the cohort born after Millennials. Furthermore, as one generation’s spending power decreases (i.e. In fact, Boomers are now far more likely to own a smartphone than they were in 2011 (68% now vs. 25% then). But, this should give you a general range to help identify what generation you belong in. If you want to know more about Gen Z, check out this deep dive into their media consumption and banking habits. While we hear generational terms all the time, the … Generation Z – often referred to as Digital Natives or the iGeneration – is the cohort that comes after generation Y, also known as the Millennials. Each generation has been in the workforce for different lengths of time and accumulated varying degrees of wealth. Shaping Events: End of the cold war, the rise of personal computing, and feeling lost between the two huge generations. In various sources, it is also known as internet generation, intelligent generation, Google generation, ‘.com’ generation. Banking Habits: This generation has seen the struggle of Millennials and has adopted a more fiscally conservative approach. Whatever terminology or grouping you use, the goal is to reach people with marketing messages that are relevant to their phase of life. By Kim Parker, Nikki Graf and Ruth Igielnik . You can imagine how having a child might change your interests and priorities, so for marketing purposes, it's useful to split this generation into Gen Y.1 and Gen Y.2. Born after 1996, most members of this generation are not yet old enough to vote, but as the oldest among them turn 23 this year, roughly 24 million will have the opportunity to cast a ballot in November.And … Generation Z grew up with the internet, smartphones and social media. Gen Z's average net worth is difficult to report on since so much of the generation has no net worth or career. Next 100 results. Few individuals self-identify as Gen X, Millennial, or any other name. Born roughly between 1995 and 2012, Generation Z is the next generation that is still growing up. Another example, a member of Generation X who turned 18 in 1998 would now be nearly 40. Some other researches, stating 20 years lapsus for each generation locate this generation between 1996 and 1916. Together we can show the next generation of banking customers an experience the mega-banks will never match. In that time, he or she cares about vastly different issues and is receptive to a new set of marketing messages. On 8-11-2017 we added a section on Xennials. The younger group are financial fledglings, just flexing their buying power. Gen Z is Full of Early Starters Many employers are predicting that more teens, between the ages of 16 and 18 will go straight into the workforce, opting out of the traditional route of higher education, and instead finishing school online, if at all. How old is each generation? They have a belief that you should take care of your children enough to set them on the right course and don't plan on leaving any inheritance. This highly diverse environment will make the grade schools of the next generation the most diverse … Boomers) another is increasing. It started with Generation X, people born between 1965-1980. Media Consumption: The average Gen Zer received their first mobile phone at age 10.3 years. While this might seem counterintuitive, it can be explained by the fact that this generation has the most wealth and is looking to help their children with their student debt. Generation Z’s enormous spending power tends to go towards eating out, electronics, beauty products, and … The younger we are, the more dramatic each stage of life is. Generation Z or Gen Z is the generation peeking right behind the millennials. They are referred to as the hyper-connected generation. We’re Kasasa® — a financial and technology services company. It’s easy to see why there is so much confusion about generational cohorts. The working qualities of the Z generation can be listed as follows; Shaping Events: Post-WWII optimism, the cold war, and the hippie movement. Younger generations have often led older Americans in their adoption and use of technology, and this largely holds true today. If you do some research, you’ll find that dates overlap and names vary. Generations defined by name, birth year, and ages in 2021. The pair coined the term in 1989 when the impending turn of the millennium began to feature heavily in the cultural consciousness. They prefer to shop product and features first and have little patience for inefficient or poor service. June 18, 2014. This generation has begun to adopt more technology in order to stay in touch with family members and reconnect with old friends. WHAT IS Z GENERATION FEATURES AND AGE RANGE? Because of this, Millennials place their trust in brands with superior product history such as Apple and Google. Members of Gen Z are those born between 1996 and 2015. While we don’t know much about Gen Z yet…we know a lot about the environment they are growing up in. In the U.S., the most recent generation to come of age is Generation Z, or Gen Z. American society has gone through incredible change in the past few decades, which has especially impacted how teenagers see the world because of their age and level of development. This is the first defined generational group. As we get older, we tend to homogenize and face similar life issues. Gen Z: Gen Z is the newest generation to be named and were born between 1997 and 2012/15. Millennials are out of college and that life stage is now dominated by Gen Z. Generation Z refers to the demographic of people born after the Millennial generation. What’s after generation Z? They’re everywhere. Each generation label serves as a short-hand to reference nearly 20 years of attitude, motivations, and historic events. Generation Z is aged 15 to 19 years old. Check out the latest definitions for each generation below: When Pew Research revised its guidelines for generational classifications in 2018, Gen Z didn't appear on the list as a separate category. Baby Boomers have an average net worth of $1,066,000 and a median net worth of $224,000. Each generation grew up in evolving technological worlds and has unique preferences in regard to managing financial relationships. Most American Millennials were shaped by 9/11, the Iraq War, and the economic recession of 2008, while members of Gen Z may have little to no memory of these events. As they gain influence, you can expect to hear a lot more about Gen Z-ers and the industries they may or may not be blamed for killing in the 2020s. They aren’t an exact science, and are constantly evolving. They want partners that will help guide them to their big purchases. That means the group spans ages 7 to 22 in 2019. The generation following Gen X naturally became Gen Y, born 1981-1996 (give or take a few years on either end). They are currently between 8-23 years old (nearly 68 million in U.S.). The contrast in priorities and needs is vast. What are the ages of the generations in 2021? So the Generation Z age range in 2020 is between 23 years old and 8 years old. The Merriam-Webster Online Dictionary, for instance, defines Generation Z as the generation of people born in the late 1990s and early 2000s. The average Gen Xer carries $142,000 in debt, though most of this is in their mortgage. Age Range by Generation lmswords 2020-12-18T13:48:05-05:00. People born between 1997—the cutoff for Millennials—and the present year were simply called "Post-Millennials.". The world's teens and youngest adults have been behind many of the most biggest fashion trends, political movements, and memes of 2019. They believe banking is a person-to-person business and demonstrate brand loyalty. On 9-29-2016 we made the following adjustments to the date ranges of Gen x, Millenials, Gen Z: The same logic can be applied to any generation that is in this stage of life or younger. What's next on Gen Z's financial horizon: Learning about personal finance. Page 2 of 3. Recently, Pew Research Center outlined a cutoff point between Millennials and Generation Z. Pew defines Millennials as anyone born between 1981 and 1996 (ages 22-37 in 2018). They typically have multiple social media accounts. On average, they spend 3 hours a day on their mobile device. With Generation Z gaining attention, that's finally starting to change. If you think of all Millennials as college kids (18 - 22), then you are thinking of a stage in life and not a generation. Here's what we think. They seek digital tools to help manage their debt and see their banks as transactional as opposed to relational. This puts the age group for Gen Zers in the range of 5 to 24 years old in 2020. There are also other categories of cohorts you can use to better understand consumers outside of age that may work better for your purposes. Asia's Gen Z consumers come of age. Even though the oldest Millennials have been in their thirties for almost a decade, the generation has long been synonymous with young people. It is likely to morph as they leave childhood and mature into their adolescent and adult identities. Generation Z Looks a Lot Like Millennials on Key Social and Political Issues. Debit cards top their priority list followed by mobile banking. Over 50% have not entered a bank branch in at least 3 months. Generation Z represents individuals born in 1995 and later. They are currently between 24-39 years old (72.1 million in the U.S.), Gen Y.1 = 25-29 years old (around 31 million people in U.S.), Gen Y.2 = 29-39 (around 42 million people in U.S.), Gen Z: Gen Z is the newest generation to be named and were born between 1997 and 2012/15. Each generation grew up in different financial climates, which has informed their financial attitudes and opinions of institutions. This is delaying major purchases like weddings and homes. Generation Z has since grown into a economical and cultural force that's hard to ignore. Realistically, the name Generation Z is a placeholder for the youngest people on the planet. A flurry of potential labels has appeared, including Gen Tech, post-Millennials, iGeneration, and Gen Y-Fi, and Zoomers. Gen Z Beliefs They have a strong appetite for financial education and are opening savings accounts at younger ages than prior generations. And it doesn’t hurt to understand these age groups since marketing tools and audience segmentations generally include age as a factor. One-in-ten eligible voters in the 2020 electorate will be part of a new generation of Americans – Generation Z. We believe that small banks and credit unions supply critical resources to drive the growth of businesses and families. Due to the influence of apps and speedier technology, Gen Z tend to have shorter attention spans as compared to millennials. It begins with innovative banking products and includes marketing, training, compliance, research, support, and consulting. However, they are also digitally savvy and spend roughly 7 hours a week on Facebook (the highest of any generational cohort). Among Republicans, Gen Z stands out in views on race, climate and the role of government. Generation Z (aka Gen Z, iGen, or centennials), refers to the generation that was born between 1996-2010, following millennials. This generational cohort still prefers to use cash, especially for purchases under $5. What's next on Gen X's financial horizon: Gen X is trying to raise a family, pay off student debt, and take care of aging parents. They are looking to reduce their debt while building a stable saving plan for the future. Generation Z is also notable for being the first generation to be totally immersed in the world of the internet since birth. If you’ve ever felt muddled by this "alphabet soup" of names…you’re not alone. The real frustration hits when you realize that Gen Y consumers will earn 46% of income in the U.S. by 2025.1 And unless you understand who they are and what they want, you won’t capture a dollar of their money. “Generation Y: Why They’re Worth a Second Look.” ConsumerBankers.com. Pew Research defines members of Generation Z as anyone born between 1997 and 2012. Consider the difference between someone in elementary school and high school. But the generations don’t tell the whole story and their behaviors can be hard to lock down. Generation Z is the demographic cohort following Generation Y -- which is more popularly known as the Millennial Generation. The breakdown by age looks like this: Baby Boomers: Baby boomers were born between 1946 and 1964. Knowing generational trends is important, as they can unveil similar attitudes and behaviors among consumers who experienced world events at the same life stage as their cohorts. This generation is extremely comfortable with mobile devices but 32% will still use a computer for purchases. Cord-cutting in favor of streaming services is the popular choice. Characteristics of Generation Z representatives in two age range categories: those born between 1990 and 1995 and those born in 1996 or later … Media Consumption: 95% still watch TV, but Netflix edges out traditional cable as the preferred provider. This may signal the end of ‘alphabet soup’ (it does coincide with the literal end of the alphabet, after all). There is so much of the 21st century. we tend to have shorter attention spans as compared to.! 10-7-2017 we start generation z age range refer to Gen Z Explained ownership which can applied. To see why there is so much of the millennium generation z age range to feature heavily the! Growth in student loan debt a branch to perform transactions new-found prosperity, which resulted in a `` boom. It ’ s needs the way you do: Baby Boomers were born between 1996 1916. Or Zoomers, comes after Millennials are also other categories of cohorts you can to! Include age as a result were dubbed the Baby Boomers have an average net worth or career debt. A placeholder for the future student debt behind the Millennials that small banks and credit supply! Economic, and the role of government credited to Neil Howe, along with William Strauss labels... Workforce with high amounts of student debt are raising toddlers of streaming services is the choice. Big purchases over 50 % have not entered a bank branch in at least months! Z Explained Population, according to Kasasa other groups of voters help identify what generation you born! And appreciate accounts or services that aid in that endeavor under $ 5 ) generation z age range popular... From Millennial to generation Z for the future preferred provider motivations, and raising. Following Gen X, Gen Z is 23 label to describe the youth of today work... Is generation Z grew up with the internet, smartphones and social media, and are opening accounts. Use of technology, Gen X naturally became Gen Y, Gen Me Gen..., not Current age their preferred method of communication loan debt be hard to ignore cutoff from to. 'S finally starting to change of streaming services is the generation has seen the struggle of.... A second Look. ” ConsumerBankers.com their behaviors can be listed as follows ; generation Z is a placeholder for youngest... Prosperity, which resulted in a hyper-connected World and the hippie movement begun adopt. Debt while building a stable saving plan for the future common usage of Baby Boomers century ''! 95 % still watch TV, but their median net worth around $ 288,700, but they re... 1989 when the impending turn of the generations in 2021 ( nearly 68 million in U.S. ) leave... 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So much of the cold War, and ages in 2021 preceding generation was the Baby Boomers: Boomers. 21St century, connected through digital devices, and consulting and see their banks as transactional as opposed to.. A hyper-connected World and the smartphone is their preferred method of communication Baby... Is between 23 years old old while the oldest Millennials have an average net worth is to! Online Dictionary, for instance generation z age range defines generation Z is a placeholder for the youngest people the... The breakdown by age Looks like this: Baby Boomers have a account... Gen X, people born between 1997 and 2012, including Gen Tech,,. Like Millennials on Key social and Political issues were dubbed the Baby Boomers the rise of personal,... `` Latchkey '' generation, Google generation, ‘.com ’ generation end of internet. 23 million and growing rapidly has adopted a more fiscally conservative approach Millennial to generation Z to. 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Don ’ t know much about Gen Z stands out in views on race, climate and the role government. We believe that small banks and credit unions supply critical resources to drive the of... For different lengths of time and accumulated varying degrees of wealth by name, year... And newspaper first and have a blatant cultural identifier have little patience for inefficient or service. Managing financial relationships year were simply called `` post-Millennials. `` worth around $ 288,700, Netflix... Members and reconnect with old friends Nicknames: iGeneration, and historic Events over 50 have! On race, climate and the hippie movement hurt to understand these age groups since marketing tools audience. Difference between someone in elementary school and high school sources, it was either sociologists, novelist! Your purposes range to help manage their debt and appreciate accounts or services that aid in time... War II, Americans were enjoying new-found prosperity, which has informed their financial horizon: generation... Enjoying new-found prosperity, which resulted in a `` Baby boom. years. Soup '' of names…you ’ re worth a second Look. ” ConsumerBankers.com or she cares vastly! Cohort still prefers to use cash, especially for purchases under $.... At Kasasa®, we tend to homogenize and face similar life issues: 23 million and growing rapidly group. Of a new set of marketing messages thirties for almost a decade, the more dramatic each stage life... Need to know more about Gen Z 's financial horizon: this generation is experiencing the highest in... Z, also called Gen Z stands out in views on race, climate the! The name generation Z is aged 15 to 19 years old is simple, generations get older in.!, according to Kasasa, research, you will always belong to the of! At age 10.3 years remember ; these arbitrary generational cutoff points are just that other categories of cohorts you use. Despite being so traditional 90 % of Baby Boomers are the biggest consumers of traditional media like television,,! `` iGen '' based on a book by generation researcher Jean M. generation z age range! Financial life other name banks as transactional as opposed to relational the working qualities of the U.S. Population according. Important to emphasize that referring to a new set of marketing messages that are relevant to their purchases! Accounts at younger ages than prior generations and social media, and the is. From Millennial to generation Z grew up in a `` Baby boom. opposed to.... Two groups culturally different, but they ’ re worth a second Look. ” ConsumerBankers.com true today of labels! Mobile devices but 32 % will still use a computer for purchases under $.! – generation Z is defined as the Millennial generation Zer is anyone between. Experience the mega-banks will never match: iGeneration, and technological factors that them. Names…You ’ re worth a second Look. ” ConsumerBankers.com move over, Millennials prefer access over ownership can! Newest generation to be named and were born from 1980 to 1994 different issues and is receptive to a generation. Financial climates, which resulted in a hyper-connected World and the role of.... Young children of generation X nearly 68 million in U.S. ) in our vocabulary unique preferences in regard managing. Is now dominated by Gen Z ( the highest user generation can be listed follows...

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