Wednesday, May 11, 2005

QuickTake: Yahoo! Chases Big-Spending Neos

From the Sydney Morning Herald in Australia comes this story about the tribe of free-spending "neos:"

Neos were first identified in Australia nearly three years ago and are rapidly igniting international interest as a group of consumption leaders who represent 24 per cent of the population but account for 54 per cent of discretionary spending.

I think we had a similar group in America some years ago. We called them yuppies. Where have all the yuppies gone? Perhaps they immigrated to Australia to lose that label. It wasn't good to be identified as a yuppie. I wonder how the neos of Australia feel about being so labeled.

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