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Businesses that thoughtfully examine and measure the time customers spend with them, and then either reduce the time costs or enhance the time value of their offerings, can gain an advantage that will continue when the economy recovers. For companies looking to win over today's more frugal customers, a focus on the value of time comes not a moment too soon. For decades, businesses have created offerings designed to appeal to people's desire to do more in less time, from labor-saving appliances to fast-food restaurants to automated teller machines. Predictably, these innovations have merely whetted the public's appetite for further improvements.
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