A significant portion of beer distributors believe the ongoing consumer boycott of Bud Light could permanently damage the brand, two new surveys find.
A survey by investment firm Jefferies Group found that 65% of beer distributors expect the Bud Light boycott to continue for another six months, and another 32% believe it could be permanent. I knew there was brew boundbeer industry publications. (Related: Bud Right Bloodbath Drops Anheuser-Busch Stock Into Bear Market Region)
For those keeping score at home, we’ve published a list of the biggest brands that conservatives are currently boycotting @DailyCaller
Expect the list to continue to grow as all LGBT activities are in full swing in June. https://t.co/95EsH97w9U
— James Lynch (@jameslynch32) May 31, 2023
Another Goldman Sachs Distributor Survey Finds Most Respondents Don’t Think Bud Light’s ‘Brand Equity And Market Share’ Will ‘Fully Recover’, Brewbound Report Finds Became. The Goldman survey was conducted among 57 distributors serving 200,000 retailers.
Distributors claiming that Bud Light will turn around believe it will take three to five years to rebuild the brand. Nearly two-thirds of beer dealers in a Goldman survey said their Anheuser-Busch sales dropped on Memorial Day, while 62% said their inventories had increased significantly. .
Conservatives began boycotting Bud Light in early April after it struck an advertising partnership with transgender influencer Dylan Mulvaney. The social media star posted multiple videos promoting Bud Light on April 1 and received customized beer cans to celebrate “365 Days of Girls’ Generation” with fans.
In response to the videos, conservatives accused Bud Light of betraying its customer base by promoting a transgender ideology. Mulvaney is biologically male, she identifies herself as a transgender woman, and she previously said in an interview with President Joe Biden in October 2022 that she was transgender to minors. I was promoting the procedure of
The boycott gained further momentum after a video was unearthed in which Bud Light’s head of marketing, Alyssa Heinerscheidt, slammed the brand’s image as “grumpy” and “out of the ordinary.” Heinerscheidt and another marketing executive have since been put on leave by working with Mulvaney. (Related: Exclusive: Leaked social media photos of Bud Light ad exec denouncing ‘flatty’ culture look pretty flatty)
Anheuser-Busch CEO Michelle Duquelis downplayed Mulvaney’s advertising during an earnings call with investors on May 4. “We need to clarify the fact that this was one campaign, one influencer, one post, not a campaign,” he said.
anheuser-busch stock fell Bud Light’s sales fell for the sixth straight week since the boycott began, down about 20%, according to the company. new york post. Bud Light sales fell 25.7% in the week ending May 20, while total beer sales fell 29.5% year-over-year, according to the company. Newsweek.