TOA: Waiting Costs $37.7 Billion

TOA Technologies has released its third annual "Cost of Waiting" report, evaluating the economic impact of waiting for in-home services among consumers and businesses. The 2011 report found a $37.7 billion economic impact for the total time people spent waiting ...

TOA Technologies has released its third annual "Cost of Waiting" report, evaluating the economic impact of waiting for in-home services among consumers and businesses. The 2011 report found a $37.7 billion economic impact for the total time people spent waiting for scheduled services. The study found that in the past year 58% of Americans waited for cable/satellite TV, Internet, utilities, retail home deliveries or other mobile workforce-related services.

The annual cost of waiting per individual, based on respondent-reported values for their own time, is equivalent to removing every working American from the workplace for more than two full workdays a year. Americans waited nearly four and a half hours, on average -- two and a half hours longer than expected -- for service appointments. More than a quarter of respondents reported lost wages, and 50% used a sick day or vacation day to wait at home for a service or delivery.

A full report of the survey results is available at http://toatech.com/costofwaiting.
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