Anheuser-Busch has taken a massive blow to their revenues in the second quarter, losing a whopping $390 million in the US market. This catastrophic loss is a consequence of the infamous partnership with Dylan Mulvaney, a controversial transgender influencer who received an exclusive Bud Light can celebrating “365 days of being a girl.”
Bud Light Fright: Fallout For Beer Brand Continues, Sales Drop $390M In Q2 https://t.co/TWhxKsIsXy
— Daily Wire (@realDailyWire) August 4, 2023
The numbers don’t lie – Anheuser-Busch suffered a staggering 10.5% drop in total US revenue in the April-to-June period compared to the same quarter last year. They continue to attribute their dwindling reputation and profits to the fading popularity of their Bud Light brand, which experienced a “volume decline” in sales during the second quarter.
The public backlash against Anheuser-Busch and Mulvaney has been harsh, resulting in the voluntary leave of absence of their VP of Marketing Alissa Heinerscheid and VP for Mainstream Brands Daniel Blake. The company tried to do damage control back in April by sending a letter to customers and distributors, reiterating that the Bud Light can in question was only given to one influencer, never intended for public sale, and part of no formal advertising campaign. But as the devastating sales figures show, their attempts to extinguish the flames were in vain.
The recent financial reports reveal a disgraceful 14% plunge in sales to US retailers, a clear sign that Anheuser-Busch has completely underperformed compared to the industry. They have chosen to link their brand to Mulvaney, a move that has left their reputation in tatters.
It is clear that Anheuser-Busch’s partnership with Mulvaney has been nothing short of disastrous, leaving them financially in tatters and with a tarnished reputation. As consumers become increasingly aware of the social and political affiliations of brands, it is essential that companies choose their partnerships carefully. Anheuser-Busch has learned this lesson the hard way, and it remains to be seen whether they can recover from this significant setback.
