Social media is an important part of young generations' digital lives and has become much more than a social connection tool. This research offers comprehensions into usage of social media among Gen Y and Gen Z and investigates the usage of social media's features such as socialization, information, entertainment, education, and shopping. Various previous studies are available which attempted to investigate the usage of social media by Gen Z and Gen Y independently. This study is the first that attempted to compare the usage between Gen Z and Gen Y. This is an empirical study comprising 293 respondents from Gen Y and Gen Z, who were selected purposively. The findings suggest that Gen Z use social media more than Gen Y for education, entertainment, shopping, and socialization whereas social media usage of both the generations for information seeking are equal. This study offers recommendations for companies from India to consider incorporating social media marketing actions to encourage their brands and products to specific age groups.