3: NEOs vs. Traditionals

Overview

The bifurcation between NEOs and Traditionals highlights broader societal divides. Let’s examine the core differences in consumption habits, decision-making processes, and cultural preferences.

Key Points:

Core Differences:

NEOs: Seek authenticity, human scale, quality, and emotional resonance.
Traditionals: Prioritise price, function, features, stability, and rational decision-making.

Decision-Making Dynamics:

NEOs approach purchases as reflections of their identity, valuing the story behind the product or service. For them, price is just the cost of falling in love.
Traditionals focus on utility and affordability, often seeking familiar brands or the best deal. For them, everything starts and ends with price.

Example:

NEO: Despite what they may think of Elon Musk, a NEO chooses a Tesla Model 3 for its eco-credentials, design, and the narrative of innovation it represents.
Traditional: A Traditional opts for a Ford Ranger, valuing price, functionality, and what it communicates to others about them.

Activity:

Compare two consumer decisions for the same product—one decision made by a NEO, the other by a Traditional. Decide on the motivations and outcomes for each.

WORD OF WARNING: When deciding to pay for an essential item (newspaper) or a commodity (phone service), NEOs and Traditionals behave pretty much identically. Only when feelings and emotional cues come into play do NEOs start acting like ... NEOs.