Anheuser-Busch’s woes are continuing as its number one product Bud Light has now lost its position as America’s top-selling beer.
Plummeting sales have knocked Bud Light off the top spot due to the ongoing boycott against the brand for its advertising partnership with transgender influencer Dylan Mulvaney.
Data cited by Newsweek shows that a Mexican beer has now taken the lead as the country’s best-seller.
Modelo Especial surpassed Bud Light as the nation’s number-one beer at the end of May, according to Circana/IRI sales data obtained by Newsweek.
Modelo sales reached $333 million in the four weeks ending May 28, a 15.6% increase from the same period in 2022, compared with Bud Light’s $297 million, a 22.8% fall.
For those keeping score at home, I published a list of the biggest brands conservatives are boycotting right now @DailyCaller
Expect the list to keep growing with all of the LGBT activism happening in June: https://t.co/95EsH97w9U
— James Lynch (@jameslynch32) May 31, 2023
The Mexican brand’s sales hit roughly $341.9 million in the week ending May 27, Bump Williams Consulting data cited by the outlet found.
This was compared with approximately $298.6 million for Bud Light for the same period.
Bud Light still leads Modelo in 2023 sales, however, with 9.1% of the total market value, compared with 8% for Modelo.
Bud Light’s parent company Anheuser-Busch owns Modelo’s international operations.
But due to a 2013 antitrust settlement by the Department of Justice, rival beverage conglomerate Constellation Brands operates its U.S. division.
Bud Light sales began dropping at the start of April.
Conservatives started boycotting the brand in response to its advertising campaign with transgender influencer Dylan Mulvaney.
The social media personality posted videos promoting Bud Light on April 1.
He received customized beer cans from the brand to celebrate his so-called “365 days of girlhood” with fans.
Conservatives reacted to Mulvaney’s videos by accusing Bud Light of disrespecting its customer base by promoting transgender ideology.
A biological male, Mulvaney previously advocated for transgender procedures for minors in an October 2022 interview with Democrat President Joe Biden.
The boycott intensified when unearthed video footage showed Bud Light marketing executive Alissa Heinerscheid trashing the beer’s “fratty” and “out of touch” image and vowing to turn the brand “woke.”
Heinerscheid and another marketing executive took leaves of absence in late April because of the Mulvaney backlash.
Anheuser-Busch’s stock is down roughly 20% since the end of March and its market capitalization dropped by an estimated $27 billion since the boycott began.
Sales of Bud Light have plunged for six straight weeks after the boycott started, including a 25.7% drop in the week ending May 20, the New York Post reported.
Nearly two-thirds of beer distributors, 65%, believe the Bud Light boycott will last for another six months, a survey from Jefferies financial firm found, according to industry publication Brewbound.
Another 32% of distributors predicted the boycott could be permanent.