Evolution of Commerce Over Past ~2 Centuries, USA = Stores  More Stores  Malls  E-Commerce Corner / General Stores Supermarkets Discount Chains Wholesale Clubs 1800s 1930s 1950-60s 1970-80s Illustrative Generational Overlap Millennials Generation X Baby Boomers Silent Generation Department Stores Shopping Malls Superstores E-Commerce Mid-1800s 1950s 1960-80s 1990s Source: McKinsey Image: Wikipedia.org, Barnumlanding.com, Cbsd.org, Dwell.com, Rediff.com, Freep.com, Corporate.walmart.com, Zdnet.com KPCB INTERNET TRENDS 2016 | PAGE 56 Note: Millennials defined as those born between 1980 and 2000. In 2015, they are ages 15-35. Gen X defined as those born between 1965 and 1979. In 2015, they are ages 36-50. Boomers defined as those born between 1946-1964. In 2015, they are ages 51-70. Silents defined as those born between 1925 – 1945. In 2015, they are ages 71 – 90. Note there are varying opinions on what years each generation begin and end.