Bud Light’s CEO is updating his resume after he was handed this devastating news

May 14, 2024

Bud Light’s CEO hoped they could wait out the backlash the brand received from going woke.

But the bad news continues to pile up for the beleaguered light beer. 

Now Bud Light’s CEO is updating his resume after he was handed this devastating news. 

Bud Light keeps waiting for customers to forgive and forget.

More than a year after the boycott against the light beer began, after partnering with transgender social media social media influencer Dylan Mulvaney, it shows no signs of slowing down.

Global brewing conglomerate Anheuser-Busch InBev – Bud Light’s parent company – told investors on an earnings call that its beer sales are down in North America.

CEO Michel Doukeris said the brewer’s revenue was rising globally but that sales in the United States were down 9.1%.

And sales to American retailers dropped 13.4%

The Bud Light boycott was blamed for the poor sales numbers.

Anheuser-Busch’s global revenue increase doesn’t tell the whole story.

Total volume around the world was down by 0.6% with revenue on price increases triggered by rising inflation.

Bud Light thinks that it can wait out the Mulvaney controversy and it’ll go away.

But more than a year later, the brand sales are still tanking from the boycott.

Anheuser-Busch has tried every marketing and promotion gimmick in the book to lure back boycotting customers.

Bud Light returned to a traditional marketing campaign and increased its marketing budget.

The light brand ran ads with NFL Hall of Famers Emmitt Smith and Peyton Manning increasing its presence during NFL and college football last fall.

And it ran a high-profile commercial during the Super Bowl. 

Bud Light still refuses to apologize for burning its core customer base with the Mulvaney partnership.

The brewer’s management thinks that eventually everyone will forgive and forget.

“We are encouraged by our results to start the year,” Doukeris said.

Wall Street also thinks that a Bud Light comeback is just around the corner.

“ABI has got its (likely) hardest quarter of 2024 out of the way with little to no bruises,” Barclays analyst Laurence Whyatt said. “Bud Light continues to weigh on results, but this is the last quarter to face a significant impact.”

This is the same rosy picture that the brewer and Wall Street have tried to paint since the beginning of the boycott.

But the bad sales numbers continue to come in even with the pivot in marketing and the passing of time.

Bud Lights has to overcome big obstacles for a comeback

Beer Business Daily publisher Harry Schuhmacher told Fox News Digital last fall that the length of the boycott meant it appeared to be “quasi-permanent” and the longtime customers “are just lost forever.”

And nothing changed since he made those remarks.

The biggest obstacle to Bud Light’s comeback is the ongoing loss of shelf space at retailers across the country.

Most major retailers reallocate shelf space every spring based on sales numbers.

Bud Light lost its crown as the best-selling beer in the country for the first time in more than two decades to Modelo Especial.

Declining sales will cause retailers to stock less Bud Light and the prime shelf space it had will go to more popular brands like Modelo.

This will give customers fewer opportunities to grab the light beer brand when they make a trip to the store.

Bud Light stubbornly refuses to apologize for going woke and its former customers still aren’t willing to forgive the brand after more than a year.

Read All About It will keep you up-to-date on any developments to this ongoing story.

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