Although the final figures aren’t in, Bud Light’s sales prognosis is a growing concern coming out of the long Memorial Day holiday.
Here’s the deal…
These are polarizing times and Bud Light is continuing to feel the backlash following its partnership with Dylan Mulvaney, a transgender influencer whose image was put on a Bud Light beer can to celebrate “365 Days of Girlhood.”
Bud Light’s decision to showcase the Trans Tik Tok activist on a special can spurred a Boycott Bud Light! online campaign, a video of Kid Rock shooting up a bunch of bud light beer cans that went viral, and a huge surge in online interest in the Samuel Adams Beer.
Amid the backlash, AB’s market capitalization has dropped nearly $6billion in the past 10 days, a decline of nearly 5%, as the company remained relatively silent save for a short statement confirming the partnership.
On April 14th, almost two weeks after Dylan Mulvaney’s Instagram announcement, Anheuser-Busch CEO Brendan Whitworth released a formal statement (without specifically addressing its partnership with the trans activist) that failed to put the matter to rest.
According to the NY Post steep drops in sales of Bud Light have continued to worsen for the sixth consecutive week…
“Sales of the US’s No. 1 beer were down 24.6% for the week ended May 13 compared to a year ago — slightly worse than the 23.6% dip they suffered a week earlier, according to Bump Williams Consulting and NielsenIQ research.”
“It’s not just a Bud Light issue,” Bump Williams, chief executive of Bump Williams Consulting, told the NY Post. “It’s an Anheuser-Busch portfolio problem now.”
“Michelob Ultra sales were off 2.9% versus a year ago in the latest week, in line with a drop a week earlier, according to a Bump Williams analysis of NielsenIQ data. Sales of Budweiser, last year’s No. 7 beer with more than $1.8 billion in sales, were down 9.7% in each of the two most recent weeks.
“Bud Light is ‘sick,’” Bump Williams, founder of the consultancy said of the US’s top-selling beer, which raked in $4.8 billion in sales last year. “It’s now infected other healthy brands with the InBev portfolio and that’s a bigger problem in my mind.”
And the hits just keep coming for Anheuser-Busch…