Bud Light is looking at a permanent loss of nearly 25% of its business after the disastrous marketing stunt with Dylan Mulvaney.
The huge loss was predicted by renowned Deutsche Bank analyst Mitch Collett.
“We believe recent underperformance implies a permanent reduction in ABI’s U.S. business,” said Collett.
“Our proprietary survey data suggests these headwinds are likely to fade even if we do not expect the U.S. business ever to fully recover from its current challenges.
“Taken together, our survey data shows that Bud Light as a brand faces significant challenges—particularly with older consumers.
“However, we believe the forward-looking data sets imply that the challenges will at least partially fade.
Evercore’s Robert Ottenstein said Bud Light will “permanently lose” between 15 and 20% of its volume, after which “declines will resume at about the average rate of the prior 10 years.”
“Budweiser will also see a similar pattern, with consumers lost in 2022 not coming back,” he said.
Anheuser-Busch CEO Brendan Whitworth seems like he has no regrets about the decisions that destroyed Bud Light and suggests he would do it again. pic.twitter.com/gnGboWRBCS
— Benny Johnson (@bennyjohnson) June 28, 2023
Recent data from Bump Williams Consulting and Nielsen IQ show that for the week ending on June 10, Bud Light’s year-over-year sales have declined by 26.8 percent, representing the worst week so far.
And for the month of May, Constellation Brands-owned Modelo Especial was the No. 1-selling brand in the United States, outpacing Bud Light, which fell to No. 2, industry data show.
JUST IN: Bud Light has officially fired two top Anheuser-Busch marketing executives after they destroyed the Bud Light brand with their Dylan Mulvaney campaign.
Group VP for Marketing Daniel Blake and Bud Light Marketing VP Alissa Heinerscheid are no longer with the company… pic.twitter.com/FRRGtlo8m0
— Collin Rugg (@CollinRugg) June 27, 2023
The CEO of Anheuser-Busch, Brendan Whitworth, said recently:
“I think it’s the impact, honestly on the employees that weighs most on me.
“Again, as I mentioned, seeing the pride and the commitment that they have, working on behalf of a 165-plus-year-old American institution is what gives us energy as we look to move forward and focus on what we do best.
“As we move forward, we want to focus on what we do best, which is brewing great beer for everyone, listening to our consumers, being humble in listening to them, making sure that we do right by our employees, take care and support our partners and ultimately make an impact in the communities that we serve.
“Over the last month we’ve talked to over 100,000 consumers and their feedback is very clear. What is it?
“The feedback is to reinforce what Bud Light has always meant to them, which is good times goodwill, and easy enjoyment.”