Beer brand Bud Light faced its sharpest decline in sales last month following an ill-fated marketing partnership with transgender influence Dylan Mulvaney. The latest figures show a decline in the beverage’s sales by almost 30%.
Photos of the beer sitting unsold on store shelves are circulating around social media.
Anheuser-Busch, the parent company of Budweiser and Bud Light, offered a number of rebates to convince consumers to purchase the beer. Some rebates show a case of Bud Light available for $4 or less. Another rebate showed a $20 rebate for a $19.98 case of the beverage.
Bud Light Boycott Already Costs Anheuser-Busch $15.7 Billionhttps://t.co/QPRkEt86qw
— Larry Elder (@larryelder) May 30, 2023
The company’s stock price declined significantly due to the ongoing public backlash. Anheuser-Busch InBev saw its stock downgraded by banking giant HSBC. The company said that the continuing boycott signals that there are “deeper problems than Anheuser-Busch admits.”
An official at the bank said that the company’s response to the public pushback “raises many questions.”
The sharp decline in sales led to Anheuser-Busch announcing that it would buy back unsold beer from distributors.
Bud Light has attempted to pivot following the sharp decline in sales. The company announced that it would be partnering with the non-profit group Folds of Honor, which helps the families of injured or fallen soldiers and first responders.
Anheuser-Busch plans to launch camouflage designs for Bud and Bud Light.
The decline in Bud Light sales appears to be a boon for its competitors. Modelo, a key competitor to the brand, saw a sales spike of almost 10%.
The New York Post reported that if Modelo’s sales continue to increase, its brand Modelo Especial will overtake Bud Light as the most-sold beer in the United States by the end of the year.
Ironically, Anheuser-Busch owns Modelo but does not control it within the United States. The brand is instead owned by Constellation Brands domestically.
Furthermore, the regional beer brand Yuengling is using patriotic themes in its marketing.
Yuengling is partnering with the nonprofit Team Red, White & Blue to support veterans. The message is part of the beer’s Stars & Stripes program. Consumers can scan a QR code on the can that shows a country music video.
