Research from the licensed minicab booking and comparison app, Kabbee has revealed that Brits consider their time is worth £338 per hour, on average, leaving no time to waste waiting around for buses, or cleaning their own homes.
The study, commissioned by Kabbee asked 1,000 employed adults in the UK how much an hour of their life is worth in monetary value, revealing the power of apps and why consumers use their Smartphone as an invaluable timesaving device.
Despite having broken through the glass ceiling in recent years, UK women still value their time at 15 percent lower than men value theirs (females said £315, compared to men who said £362 per hour).
The group that think their time is worth the most are those aged 18-24, who put the figure of £464 on an hour of their time, compared to those aged 45 to 54 who said £208 an hour.
The study also revealed the ‘average monetary value of one person’s time’ by city:
Average value per hour
The study was commissioned to celebrate the partnership with Housekeep, the award-winning online booking platform for regular home cleaners, joining Kabbee Treats Loyalty Programme, which gives passengers access to life-enhancing services and offers, which are rewarded based on the amount spent on minicab journeys.
Previous research from Housekeep showed that 70 percent of homeowners spend more than three hours a week doing household cleaning, tidying and chores, which amounts to a potential £1,164 worth of their time, based on the average being £388 per hour.
Justin Peters, CEO and Founder of Kabbee comments on the value Brits put on their time:
“We know from previous research that one of the main reasons people use Kabbee is because we aggregate 70+ fleets, saving passengers from calling around for the best price, or to find an available cab. It’s all about time-saving solutions today, and that’s why we partner with a similar service like Housekeep.
“Last year we asked our users what they like most about Kabbee, and 82 percent said they love the life-enhancing treats that we provide through our Loyalty Programme so we’re always looking for new partners to join us to expand the treats we can offer.”
Avin Rabheru, Founder & CEO of Housekeep comments on the findings:
“Everyone’s lives have become so busy, and multi-tasking has become the norm, meaning it’s become even more difficult to find time for cleaning your home and those ‘I’ll do it later’ type chores - whilst at the same time coming to a lovely, sparkling home is an even better feeling.
“At Housekeep, we pride ourselves on finding trustworthy, experienced home cleaners who go that extra mile to make life easier for householders. This study has confirmed our understanding of how busy people are, and how precious time is, making services like ours and Kabbee’s extremely valuable.”