Just how bad is it for piss water Anheuser-Busch? After losing at least $30 billion and plunging sales after going woke with Dylan Mulvaney, the company is now selling off eight of it’s brands just to try and stay afloat. The company will never be the same.
Bud Light still struggling. pic.twitter.com/XgfOU6hYsa
— Brian Sozzi (@BrianSozzi) August 8, 2023
Maybe Anheuser-Busch should hire America hater Megan Rapinoe to advertise their piss water next. I mean, if “marketing genius” Alissa Heinerscheid has anything to say about it, they might just do that. You know, because of “inclusion” or something.
It’s been months since the onset of the Bud Light controversy, but the decision to dive headfirst into the thicket of American culture wars is only just catching up with Anheuser-Busch InBev SA (BUD)
The data suggest Bud Light is hurting.As of the week ending July 29, Bud Light sales dropped for the 17th straight week in a row, down 29% year-over-year following the company’s company’s decision to partner with transgender social media personality Dylan Mulvaney as a spokesperson.
Its financials might not be cheery, but its struggles extend beyond the accounting books. Bud Light lost out as the most popular beer in America to Modelo, and images on social media now regularly pop up showing Bud Light being sold for less than water.
Then in late July Bud Light parent company Anheuser-Busch made the difficult decision to cut hundreds of employees. The job cuts affected approximately 2% of its workforce, or 350 positions. The company claimed mostly corporate employees were affected, calling the move a “very difficult but necessary decision.”
“Regardless of favorability, our consumers across all the sentiment groups have three points of feedback in common. One, they want to enjoy their beer without a debate. Two, they want Bud Light to focus on beer. Three, they want Bud Light to concentrate on the platforms that all consumers love,” CEO Michel Doukeris said in a pullback from the culture wars debate during the Q2 earnings call.