Go woke, go broke.
Despite an increase in substantial earnings in Q1 2024 for parent company Anheuser-Busch, sales of Bud Light continue to plummet more than a year since its disastrous pro-trans marketing campaign.
A mass boycott by furious beer drinkers began in April 2023 after Bud Light launched its campaign featuring transgender activist Dylan Mulvaney. Following widespread publicity, sales of the beverage to retail stores had fallen by more than a quarter by July 2023.
One year on and sales continue to drop, although its impact on Anheuser-Busch is somewhat limited. The company experienced a 2.6% revenue increase to $14.55billion in the first quarter of the year, partly attributed to higher prices. That said, the boycott remains noticeable with a 9.9% volume decline in Bud Light sales across North America.
This was a shock to no one, of course.
Anheuser-Busch has not escaped the impact even with successes elsewhere. With its market share continuing to fall one year on, the brewer has sought to minimize its losses through an unsuccessful Super Bowl ad.
What is your view on the Bud Light fiasco? Did you stop drinking it after the Mulvaney campaign?
