I?ve recently read about the newly defined demographic of the NEO (new economic order). I?m probably one of them. It?s a demographic based on economic power, and it crosses race, class and gender. NEOs are likely to be tertiary educated, well travelled, comfortable with selective conspicuous consumption and motivated by innovation and ideas. They are also early adopters and regular users of the internet and information technologies. The concept is explained in a website and in this book.
NEOs travel, for example, based on the desire to have unique experiences, and are not motivated by cost and other practical considerations. They have the means to elevate novelty and individuality above other concerns. For example, the cost of a return flight to Sydney and a hotel room, plus the cost of concert tickets, meals, drinks etc, is entirely justified in order to see a rare Lou Reed concert. The experience was unique, and the price of the above items was simply the cost of obtaining the experience.
You can read a summary of the differences between ‘Traditionals’ and NEOs here. I think the list is mostly accurate, though the way that the two groups differently relate to brands as a form of identity should be better defined and more clearly explained.