Sales for Bud Light and its parent company Anheuser-Busch InBev are still plummeting months after the brand went woke by teaming up with the transgender influencer Dylan Mulvaney for a partnership back in April. Now, the Anheuser-Busch CEO is launching a desperate plan in an attempt to save the company from going under for good.
Anheuser-Busch’s third quarter figures show a 14 percent decline in U.S. revenue, along with a 17 percent fall in sales to American retailers, similar to the figures it recorded for the second quarter between April and June. Newsweek has reached out to Anheuser-Busch InBev for… pic.twitter.com/IfnEKam4rT
— Hollywood Resistance (@ResistItAllTX) October 31, 2023
Anheuser-Busch, Bud Light Sales Plummet
Daily Mail reported that Anheuser-Busch announced yesterday that revenue in the U.S. fell by 13.5 percent between July and September. On top of that, sales to U.S. retailers were also down 17 percent during that time period, with Anheuser-Busch admitting that this was largely due to a drop in demand for Bud Light.
As for Bud Light specifically, its sales were down 29 percent in the four weeks that ended on October 21 compared to the same period one year ago. For the year to date, Bud Light sales are down nearly 19 percent from where they were last year. This comes after conservatives launched a highly affective boycott of Bud Light in the wake of the brand teaming up with Mulvaney, a 26 year-old transgender influencer, for a partnership back in April.
This isn’t a parody. Dylan Mulvaney is now the face of Bud Light. pic.twitter.com/cpygA74cG5
— Ian Miles Cheong (@stillgray) April 2, 2023
Related: Bud Light Gets More Bad News As Dylan Mulvaney Debacle Escalates
Anheuser-Busch Tries To Save Company
In a desperate bid to turn things around, Anheuser-Busch InBev CEO Michel Doukeris said on Tuesday that his company is focusing on marketing in more traditional outlets like college football and concerts. As the company makes this shift, Doukeris pledged that they will be staying out of heated cultural debates.
“While beer will always be at the table when important topics are debated, the beer itself should not be the focus of the debate,” he told investors, according to CNBC.
Earlier this month, it was announced that Bud Light has been made the official beer of the UFC mixed martial arts organization in a multiyear partnership that begins on January 1, 2024. The deal states that Bud Light will be the “official beer partner” of the UFC, with the beer brand having a “highly visible presence” during fights and weigh-ins, according to CNN.
“I’m proud to announce we are back in business together. There are many reasons why I chose to go with Anheuser-Busch and Bud Light, most importantly because I feel we are very aligned when it comes to our core values and what the UFC brand stands for,” UFC CEO Dana White said in a statement.
UFC faces boycott calls after announcing deal with Bud Light reportedly worth $100M pic.twitter.com/mLwdIOHvDq
— Daily Loud (@DailyLoud) October 25, 2023
Doukeris Claims To Have Hope For The Future
Doukeris claims that he’s found hope in the fact that while Anheuser-Busch InBev’s total share of the U.S. market fell to just over 36 percent at the end of April, it has stayed there in the months since then.
“This gives us some certainty that we are moving in the right direction,” Doukeris told investors yesterday. “I don’t think we are at a new normal yet, but we have a good grip on what we need to do and how we are proceeding.”
Doukeris has also said that Anheuser-Busch InBev is trying to focus on what consumers actually want moving forward.
“One, they want to enjoy their beer without a debate. Two, they want Bud Light to focus on beer. Three, they want Bud Light to concentrate on the platforms that all consumers love, such as the NFL and music,” he said. “We are taking the feedback and working hard to earn our consumers’ business.”
The Bud Light boycott is actually working:
The company is tripling their marketing spending to save the brand this summer.
The company is literally giving away beer for free to sellers.
Bud Light sales dropped 17% by mid-April.
CEO Michel Doukeris has officially disavowed the… pic.twitter.com/LLayxdV1eX
— Collin Rugg (@CollinRugg) May 4, 2023
It’s safe to say that Anheuser-Busch and Bud Light have learned the hard way that “go woke, go broke” is very real indeed. Hopefully other brands have taken notice and will think twice about going woke by partnering with someone like Mulvaney in the future!
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