It looks like food is the next area that investors are focusing according to a recent article in the New York Times.
It is a very interesting area but like all consumer goods investment the focus for all budding start-up entrepreneurs should be the product market fit.
I meet consumer good startups quite often, but I find that very few of them speak to customers, heavily research the market or ground their investment decisions on what customers want.
This seems to be due to a reliance on retailers to do this work historically so the skill set isn’t always there – they lack of product research usually kills great ideas.
I have become like a broken record – sorry – but if you are going to launch a product either in retail or online make sure you do as much research on what customers want – not what you want!Tweet