Cable in-home appointment wait times cost consumers $37.7B per year

If you're frustrated about the time it takes for the cable technician to come out and fix your malfunctioning cable modem or voice line, you're not alone.

According to a new IBOPE Zogby poll of 1,000 working adults, U.S. consumers wasted $37.7 billion this year waiting for in-home services, including cable technicians, furniture delivery and contractors. However, 57 percent said they spend the most time waiting for the cable guy to show up.  

The only issue with the study's figure is that it was based on how much money the participants "perceived" their time to be worth. About three-quarters of the study's participants, or 72 percent, said one hour of their time is worth over $15.

Regardless of the actual accuracy of the study's numbers, losing customers who are frustrated with long wait times is expensive. On average, a company will lose about $330 for each customer who decides to sever ties with them following a bad experience.

At least one operator is already responding to consumer frustration. To allay some of the installation waiting pain, Comcast (Nasdaq: CMCSA) is offering consumers a $20 credit on their cable bill if its installers miss an appointment window.

For more:
- CNN Money has this article

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