Anheuser-Busch CEO Brendan Whitworth has addressed the concerns of customers in a letter, acknowledging the decline in popularity of Bud Light following its collaboration with transgender activist Dylan Mulvaney.
In a blog post titled “Anheuser-Busch Announces Support for Frontline Employees and Wholesaler Partners,” Whitworth emphasized that the company recognizes the shift in focus away from beer over the past two months and its impact on consumers, business partners, and employees. He reaffirmed the company’s belief that beer is for everyone, stating, “We are a beer company, and beer is for everyone.”
The parent company of Bud Light has experienced a decrease in market value, dropping from $134.5 billion in late March to $99 billion at present. In response, Whitworth outlined three key actions to propel the company forward. These include investing to protect frontline employees’ jobs, providing financial assistance to independent wholesalers to support their employees, and addressing the concerns of loyal customers.
Whitworth assured customers that the upcoming summer advertising campaign for Bud Light will highlight the qualities that have made it a favorite among beer drinkers, such as its low alcohol content and simplicity. He made a commitment to focus on the company’s core strength of brewing exceptional beer and being present in significant moments for consumers.
Sales data from NielsenIQ, shared by Bump Williams Consulting with Fox Business, revealed a year-over-year decline of 24.4% in Bud Light sales for the week ending June 3. During the same four-week period, Bud Light sales dropped by 24.6% compared to the previous year. Modelo Especial surpassed Bud Light in terms of dollar sales for both the two-week and four-week periods ending on June 3. On the other hand, sales of Coors Light and Miller Lite experienced significant growth, increasing by nearly 20% during that time.
Anheuser-Busch InBev, the company behind Budweiser and Bud Light, had distributed customized cans of Bud Light to social media influencers, including Mulvaney. However, this move led to a sharp decline in sales. Many people mistakenly believed that the personalized cans were available for purchase in stores, when in reality, they were solely sent to the individuals featured in the influencer’s post. As a result, sales of Bud Light and other Anheuser-Busch products suffered due to consumer boycotts and have not yet recovered.