The hits just keep coming for Bud Light.
It isn’t just Modelo Especial that’s kicking Bud Light’s rear. It’s being reported this morning that both Miller Light and Coors Light have also dominated sales over Bud Light since the crucial Mulvaney error.
Here’s more from Daily Mail:
The brewer of Miller Lite and Coors Light has reported a huge surge in sales as drinkers turn their backs on Bud Light after the Dylan Mulvaney debacle.
Molson Coors has reported its best quest revenue since a 2005 merger which brought Miller and Coors under the same umbrella.
The two beers’ combined sales were 50 percent greater than Bud Light’s for the April-June period.
Distributors of Bud Light are concerned the beer will never bounce back and are now looking to other beers to claw back lost customers. Retail sales are down around 30 percent on last year following a boycott.
Roth analyst Bill Kirk said: ‘We believe the market share shift away from Bud Light and towards Lite and Coors Light will be sticky and likely very profitable.’
One executive at a beer distributor in Texas told the New York Post that customers have left Bud Light ‘and that’s how it’s going to be’.
‘I don’t envision a big percentage of them coming back,’ the exec said, adding that Coors Light and Miller Lite are ‘very similar’ and ‘whoever is best at marketing’ will win the customers who’ve shunned Bud.
Layoffs are coming to Bud Light:
Anheuser-Busch is set to lay off hundreds of employees in the wake of the brand’s disastrous Mulvaney partnership. The company announced its decision to lay off about 2 percent of its US workforce in a statement released by CEO Brendan Whitworth last week.
There are around 19,000 people employed by the company in the US, meaning approximately 380 staff are set to lose their jobs.
‘Today we took the very difficult but necessary decision to eliminate a number of positions across our corporate organization,’ Whitworth said.
‘While we never take these decisions lightly, we want to ensure that our organization continues to be set for future long-term success,’ he added.
Football seasons is coming quickly and Bud Light is clearly hoping this will blow over at some point. But that appears to be a ways off, if ever, especially with distributors abandoning Bud Light for the alternatives.
Hopefully this boycott has sent a strong message to all those paying attention: If you go woke, you will go broke.