I'm no expert, but I always thought the American brand "conservative" stood for "fiscal conservative", as in, to save money by limiting government spending.

That definition lines up well with their actual policies which tend to be cutting government spending, tax cuts, downsizing government jobs, etc.

Not really conserving traditions. Although there's plenty of that in their cultural identity.

Edit: to be clear, the party has long since moved past being actually conservative. The most accurate description they might have now would be the party of spite.