A new survey released today by FinanceBuzz, conducted in partnership with Bank of America, finds that 97% of Americans used a convenience service (food delivery, takeout, grocery delivery, etc.) in the last month, and more than half say their spending has increased in the last five years.

The survey of 2,000 U.S. adults reveals huge adoption of takeout, delivery, grocery, and errand services, particularly among Gen Z shoppers. Overall, Americans said they value their time at $87 an hour on average, and most are willing to pay to protect it.

"Some people are paying for the value of the delivery, but many are paying not to think about it at all," said Melinda Sineriz, Managing Editor at FinanceBuzz. "This isn't just frivolous spending; Americans value their time, and they're willing to buy some of it back."

Key findings from the survey include:

• 97% of Americans used at least one convenience service in the last month, and 52% say their convenience spending has increased compared to five years ago.
• Americans value an hour of free time at $87 on average, more than double the $37.62 average hourly wage reported by the Bureau of Labor Statistics.
• 68% have abandoned a delivery order after seeing the total cost with fees, a figure that climbs to 78% among Gen Z and falls to 41% among Baby Boomers.
• The average American will pay $9.49 in food delivery fees before deciding to pick up the order instead. The most common answer was just $5.
• 85% pay for at least one convenience membership, averaging $22 a month, or $264 a year.
• 22% have tipped nothing on a delivery because the meal was already expensive or the fees were already high.

The data also points to a generational divide in how Americans feel about their delivery spending. While most didn't feel guilt, Gen Z was most likely to feel guilty or embarrassed about their convenience spending. Those gaps track with usage: Gen Z reported an average of 4.3 food delivery orders per month, nearly three times the 1.5 reported by Baby Boomer respondents.

Delivery subscriptions appear to be one area where costs get lost. On average, customers say they'll switch to pickup once delivery fees hit $9.49, but carry an average of $264 a year in convenience membership fees.

The full study and findings are available at https://financebuzz.com/convenience-economy.