NEOs have greater spending propensity

NEOs spend more than anyone else. Almost all of them (92%) are in what is known internationally as the Big Spender category - that is, the top third of discretionary spenders in the economy. This compares with only 4% of Traditionals, many of whom are well-off - they just hate spending money.

And the higher the discretionary nature of products, the higher the NEO differential. For example, both Traditionals and NEOs by luxury vehicles so the differential is not so dramatic, but when it comes to borrowing money to make an investment in property NEOs dominate that spending category because they are much more comfortable with debt.

In every category NEOs are more likely to spend more than Traditionals.