Bud Light's Sales Stay Stagnant
People are still upset about Bud Light. There are ongoing negative reactions. People haven't let it go. The backlash is still happening.
Bud Light sales for Anheuser-Busch InBev dropped by 24.6%. The new data is from the week ending May 13 from Nielsen. The sales fell faster than the week before, which was only a 23.6% drop.
In terms of volume, there was a decrease of 28.4% from the previous week. Last week, it was a decrease of 27.7%.
Yahoo Finance's Brooke DiPalma said beer sales went down after a transgender influencer Dylan Mulvaney posted on Instagram endorsing the light beer during March Madness basketball tournament.
ABInBev noticed a drop in Bud Light sales after April 1, which continued into May. This decrease got worse when country musician Kid Rock released a video on April 3, causing many people on the right to boycott the product.
Alissa Heinerscheid, VP of marketing for Bud Light, quit in April because of a scandal.
ABInBev's wide range of beer is still affected by the situation.
On April 15th, 2023, in New York City, there were cans of Bud Light beer.
Michelob Ultra dropped by 6.8%. Budweiser went down by 14.9%. Natural Light decreased by 8.5%. This happened in the week until May 13. Nielsen's data shows these changes.
Bud Light's trends are steady, but lower than before the controversy. The rest of ABI's portfolio is also affected by boycotts. This shows that the boycotts are ongoing.
Other beer companies are taking advantage of the problems facing the King of Beers.
Heineken bosses said in an interview they'll drop $100m on promoting a new light beer known as Heineken Silver. They're giving away two million free samples this year to launch the beer.
Brian Sozzi is the Yahoo Finance Executive Editor. You can follow him on Twitter @BrianSozzi or on LinkedIn. If you have any tips on the banking crisis, you can always email him at [email protected].
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