You can iterate over everything div.productand trim the text to remove spaces. If something is left, show it, otherwise hide your wrapper.
$("div.product").each(function() {
if ($(this).text().trim() == '') {
$(this).closest('div.wrapper').hide()
}
})
<script src="https://ajax.googleapis.com/ajax/libs/jquery/2.1.1/jquery.min.js"></script>
<div class="gen-customer">
<div class="wrapper">
<div class="heading">Hidden if working 1</div>
<div class="content">
<div class="product"></div>
</div>
</div>
</div>
<div class="gen-customer">
<div class="wrapper">
<div class="heading">Visible if working 2</div>
<div class="content">
<div class="product">text</div>
</div>
</div>
</div>
<div class="gen-customer">
<div class="wrapper">
<div class="heading">Hidden if working 3</div>
<div class="content">
<div class="product"></div>
</div>
</div>
</div>
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