Bud Light sales continue to fall as rivals ‘could see shortages’
Bud Light has continued to decline week-on-week with US$15.7 billion wiped off the value of AB-InBev since the controversy over the Dylan Mulvaney endorsement.
According to the latest figures from Beer Business Daily, sales volumes of Bud Light for the week ending May 13 fell by 28.4%, extending a downward trend from 27.7% decline last week and around 23% a fortnight ago.
At the same time, Coors Lite has increased in value by US$2.2 billion – up around 20% – and Heineken’s stock value has risen to US$1 billion, an increase of around 1.7%.
The news follows reports that AB-InBev were buying back unsold Bud Light and other reports that some stores were even giving away the beer for free.
Heineken has also eyed an opportunity to sell its own Heineken Silver brand in the US as a result of the current reduction in sales of Bud Light.
Beer Business Daily editor Harry Schuhmacher told Fox News Digital that the ‘whole industry is in shock’ and that the end result of the demand for other lagers could result in a shortage as the US celebrates Memorial Day weekend.
He said that ‘even Bud’s competitors aren’t really dancing on the grave’ over fears they too could ‘have it happen to them’ – and there could be a supply shortage going forward which could impact the rivals.
Schumacher said: “You can’t just flip a switch and make beer. You know, beer is brewed. It takes, you know, at least a couple of weeks to make. So, they haven’t had major supply issues yet, but we’re about to hit Memorial Day and we could probably see some supply shortages there.”
It follows the original issue almost two months ago on 1 April when influencer Dylan Mulvaney posted a video of herself cracking open a can of Bud Light featuring her face on the can, using the hashtag #budlightpartner.
Ultra conservative Americans swiftly called for a boycott of Budweiser products, which is said to have knocked US$6 billion off the company’s value. Among those who took offence to the campaign was musician Kid Rock, who filmed himself shooting a stash of Bud Light cans with a machine gun.
Following the incident, at least two of Bud’s marketeers have been sent on leave and Anheuser-Busch has ditched an advertising agency involved with the scheme.
According to reports in the US Anheuser-Busch says the brouhaha is the product of one single can. This was the one single can given to one social media influencer, which Mulvaney used in the social media post, a letter to wholesalers said.