The effects of a boycott set off by a partnership with a transgender influencer appear to be long lasting for Bud Light, which continues to see sales slump more than a year later.
In April 2023, Bud Light became embroiled in controversy when it partnered with Dylan Mulvaney to promote the beer on social media. The company initially gifted Mulvaney special cans featuring her face as a way to celebrate a full year of her "Days of Girlhood" TikTok series, which she used to document her transition. The 27-year-old said the cans were her "most prized possession" and posted a video drinking Bud Light in a bathtub.
The partnership quickly backfired and was widely met with backlash, with conservatives describing the campaign as an attempt to push gender propaganda. Many people boycotted not only Bud Light, at the encouragement of celebrities including Kid Rock, but all brands owned by parent company Anheuser-Busch. Others felt Bud Light didn't support Mulvaney through the ordeal and also abandoned the brand.
Sales plummeted and the company reported a enormous drop in profits for 2023 as a result -- as much as $1.4 billion in sales.
Some experts have said that Bud Light's popularity may be "lost forever," and if numbers in the first quarter of 2024 are any indication, they might be right -- at least when it comes to Americans.
Anheuser-Busch InBev reported this week that revenue in the U.S. fell by 9% for the January-March period and beer volumes dropped 10% for the quarter.
In its quarterly earnings report, the company noted that sales-to-retailers were down by 13.7%, primarily due to the volume decline of Bud Light. Sales-to-wholesalers also declined by 10.1%, as shipments caught up with the stronger depletions in December, the company said.
While the Bud Light boycott may still be going strong for some, it doesn't appear to have any extended effect beyond our borders. Despite weakened sales in the U.S., Anheuser-Busch brands globally reported higher-than-expected revenue in the first quarter. Revenue rose 2.6% to $14.5 billion, beating Wall Street's forecast of $14.3 billion, The Associated Press reported.