Bud Light Boycott Cost Company $1.4 Billion in Sales

metroweekly.com:

partnered with transgender influencer Dylan Mulvaney for an online promotion last year.Mulvaney appeared in a TikTok video highlighting Bud Light’s “March Madness” promotion during the annual NCAA Division I men’s and women’s basketball tournament.She also appeared in an online ad where she sat in a bubble bath, clad in a bathing suit, sipping Bud Light.As part of that promotion, the company also sent Mulvaney a commemorative can with a picture of her face on the exterior, celebrating the first anniversary of her “Days of Girlhood” video series documenting her gender transition.The can did not go on sale to the public.

Still, many conservatives and anti-transgender advocates took offense at what they saw as Mulvaney’s caricature of womanhood, as well as the idea of transgender visibility, and called for boycotts not only of Bud Light, but other products of Bud’s parent company, Anheuser-Busch InBev.Anheuser-Busch InBev reported record revenues for 2023 but said its “full growth potential was constrained” by the decline of sales in the United States, where the boycott was the strongest.In total, organic revenue in North America decreased by $1.4 billion due to a decline in beer sales, reports CNN.As a result, Mexican beer Model Especial dethroned Bud Light as the United States’ top-selling beer.From May through February, Bud Light recovered only 1.2 percentage points of lost market share, CEO Michael Doukeris told investors on Thursday.

Doukeris said the pace of recovery is picking up — but only by a 0.1 or 0.2 percentage points every three to four weeks. “It’s not at the fast pace that we were expecting or that we’ve been working for.