Critics of Bud Light expressed their distaste by burning empty beer boxes and shooting bullets at cans, as part of an anti-trans backlash that began last month and has since gained momentum. The decline in sales of Bud Light for six consecutive weeks can be attributed to the endorsement of the brand by Dylan Mulvaney, a transgender influencer, which sparked anger among many conservatives.
Boycotts by consumers usually lose steam quickly, but this particular boycott has kept pouring on from what has been told and said about Bud Light stock across the country.
Sales of Bud Light have dropped nearly 25% compared to the same period last year, based on data from Bump Williams Consulting and Nielsen NIQ. This decline follows a previous drop of 23% and a 7% year-over-year decrease in sales, which occurred shortly after the boycott began. On the other hand, rival beer brands like Coors Light and Miller Lite have experienced significant sales increases during this period.
Anheuser-Busch InBev, the maker of Bud Light, has seen its stock price fall approximately 11% since Mulvaney’s endorsement video triggered the backlash.
In response to the boycott, Anheuser-Busch InBev CEO Brendan Whitworth posted a statement on the company’s website, emphasizing their intention to bring people together and expressing regret for being involved in a divisive discussion. The company also placed two executives involved in Mulvaney’s endorsement on leave, as reported by the Wall Street Journal.
It is so funny how much this all blew up in Bud Lights’ faces and now they’re facing the consequences of it. I think everyone has seen the true power of this boycott. Whenever I walk into a grocery store, it is hard not to look at all the cases of Bud Light that haven’t been touched for over a month. I have yet to see any of my local stores trying to get rid of it for basically free, but I guess I still got some more time.
Either way, I have always been a big Coors Light guy because I am always amazed on how the mountains on the can turn blue when the beer is cold.