What Are You Worth?

$100 CNN did a quick blurb this morning about shoppers and waiting in line. It went something like this: “blah blah blah, shoppers don’t like waiting. In fact, many shoppers are forgoing deals because of the lines.” Then something interesting was mentioned. “Shoppers, on average, say their time is worth $1.75 per minute.”

Per minute!? Really? That’s $105/hour! Crikey!

There’s a few interesting (potential) implications in that there statistic. I have a few, but I think there’s a lot more, so feel free to help me out.

  1. People believe their free time is worth more than their work time, significantly. (The average person in the US made a median amount of $11.31 per hour ($23,535 per year). source
  2. People believe they are being under-compensated for their work wages (?)

So, am I crazy? Or does the average person/shopper really believe they are worth $105/hour?

[tags]worth, value, holiday shopping, cnn[/tags]

Nate Ritter lives in Austin, Texas (U.S.), popularized the #hashtag and creates web applications for a living. He also does miles and point hacking to enable cheap travel for his family. More here →

3 Comments on "What Are You Worth?"

  1. Brad Fults says:

    I love Wikipedia.

    I think middle class consumers are trained to be impatient in general. That might be the irony in this case, since the retailers are evidently the ones suffering.

    Your favicon reminds me of Netscape’s old logo. Kind of nostalgic.

  2. nate says:

    Yea, I need a brand/identity that will fit into a favicon.

    That’s a good point, Brad, about the retailers suffering because of the trained impatience of the public.

  3. Jed says:

    My free time is priceless.

    I don’t know if this is due to my “training” or what, but I’m bothered by gross inefficiencies… especially when they’re immediately apparent to me.

    This is why I have no qualms shopping almost exclusively online. Brick and mortar be damned!

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