Impact Of Disruption On The Future Of Food
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<p>Consumers remain at the center of everything. Pointing to the success of Apple, Inc. I feel that innovation is all about solving consumers need in new ways; they may not know what they need, but when you speak with them, they can clearly tell you what makes them dissatisfied….So, where to start?</p><p>Convenience is still king! We are spoiled. We do not even like to cut or peel stuff anymore. It may cost more, but we prefer ‘grab and go.’ And nobody likes to clean utensils…we now want our portion-controlled meals and side dishes purchased and cooked in the same package.</p><p>Then came the gradual retreat of grocery shopping in the onslaught of online economy, for which delivery times have gotten shorter and shorter. I remember when it used to take one to two days to get a home delivery. Now, I can receive my orders within one-to-two-hour time frames. This has also shifted expectations, as “food on demand” rests only a smartphone away from the consumer’s couch.</p><p>Fast, home-based delivery services still have growing pains. I once ordered a meal kit and was shocked to find that the instructions were overwhelming. Not only that, but they expected me to cut and peel the ingredients. Come on…we don’t do these things anymore…the service failed to reflect my inability to cook!</p><p>Amazon.com is the great game-changer behind this trend. Amazon trained us to expect not to have to wait for our electronic orders. Beyond grocery, the U.S. has experienced a proliferation of ready-to-eat home delivery services in urban areas (e.g., GrubHub)</p><p>Small companies are proliferating in this environment. The market research company, IRI, just published its top-100 company list of pace setters and, for the first time, small companies represented more than 50% of that list. But average company lifespans are also declining. Part of this “surge and churn” environment is attributable to lowered barriers to market entry.</p>
