Amid the turmoil following the Dylan Mulvaney controversy, Bud Light is experiencing a significant decline in sales, leaving room for its competitors to seize the opportunity and thrive. According to data from Evercore ISI, in the 12-week period leading up to July 2, Bud Light’s sales volume plummeted by 27.1%. This decline was a direct consequence of the aftermath of the transgender activist’s social media post, showcasing a custom Bud Light can she received.
Rivals Thrive as Bud Light Stumbles
In stark contrast to Bud Light’s misfortune, other light beer brands saw a surge in sales during the same period. Coors Light, for instance, experienced a remarkable 17.8% rise in sales volume, while Miller Lite and Corona Light also enjoyed notable increases of 14.3% and 3%, respectively.
Anheuser-Busch InBev’s Woes Extend Beyond Bud Light
The negative impact of the controversy extended to other Anheuser-Busch InBev products, resulting in a collective sales volume decrease of 28.5% for the Bud Light family of products. Even the beloved Budweiser and Busch Light were not immune, experiencing declines of 13.5% and 9.8% in sales volume, respectively, over the same period.
Overall Sales Drop for Anheuser-Busch InBev
The Evercore ISI data indicated that Anheuser-Busch InBev’s beer sales were down by 15.4% in the 12 weeks leading up to July 2. The only bright spot for the company was Michelob Ultra, which experienced a more modest decline of just 4.5%.
Constellation Brands and Molson Coors Benefit from the Fallout
As Anheuser-Busch InBev’s sales dwindled, rival beer brands owned by Constellation Brands and Molson Coors reaped the rewards. In June, Constellation’s Modelo Especial successfully dethroned Bud Light as the top-selling U.S. beer in terms of dollar sales for the previous four weeks, signaling a shift in consumer preferences. The Evercore ISI data revealed that Modelo Especial’s sales saw an impressive 11% increase in the 12 weeks leading up to July 2.
Constellation Brands Soars to New Heights
Buoyed by the success of Modelo Especial and Corona Light, Constellation Brands saw a notable 10% increase in its beer sales volume during the same period. This achievement was further underscored when the company’s stock price hit an all-time high of $269.20, surpassing its previous record of $257.49 in late November 2022.
H2: Molson Coors Makes Gains Amidst Bud Light’s Woes
While Constellation Brands celebrated its accomplishments, Molson Coors was also enjoying a period of growth. Coors Banquet led the charge, experiencing a remarkable 24.6% increase in sales volume, followed closely by Coors Light and Miller Lite. As a result, Molson Coors beers collectively saw a healthy 10.7% increase in the 12 weeks leading up to July 2.
Anheuser-Busch InBev’s Attempt to Regain Ground
Seeking to distance itself from the controversy, Anheuser-Busch InBev’s CEO, Brendan Whitworth, made a statement in April, expressing the company’s intent to bring people together over a beer. In an effort to move beyond the negative publicity, Bud Light launched its summer marketing campaign with the theme “Easy to Summer,” focusing on celebrating fun and entertainment through music, backyard grilling, football, and, of course, the easy enjoyment of their beer.
As Bud Light grapples with a sales decline following the Dylan Mulvaney controversy, rival beer brands have seized the opportunity to capitalize on the market gap. Constellation Brands, powered by the success of Modelo Especial and Corona Light, witnessed soaring stock prices and increased sales volume. Similarly, Molson Coors celebrated significant gains in sales, reflecting shifting consumer preferences in the beer industry. As the summer unfolds, all eyes are on Bud Light’s marketing campaign to see if it can turn the tide and reclaim its position as a beloved choice for beer enthusiasts across the nation.
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