by Brian Shilhavy, Health Impact News:
Excerpts:
Sales of Bud Light continue to plummet, reflecting ongoing backlash to the brand’s decision to hire transgender influencer Dylan Mulvaney as a spokesperson.
According to data cited by the beverage industry trade publication Beer Business Daily, sales volumes of Bud Light for the week ending May 13 sank 28.4%, extending a downward trend from the 27.7% decline seen the week before.
At a time of profound cultural and political division in the U.S., light beer drinkers simply don’t want to be drawn into another debate about values, said Beer Business Daily editor and publisher Harry Schuhmacher.
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“Most people don’t care about this issue and don’t want to get roped into a conversation,” Schuhmacher said. “Therefore they’re not going to buy the beer.”
AB InBev shares have fallen more than 10% since Mulvaney’s social media post went live. In a note to clients published Tuesday, JPMorgan analysts said that even if the decline in Bud Light sales stabilizes, “We believe there is a subset [of] American consumers who will not drink Bud Light for the foreseeable future.”
“Nobody imagined it would go on this long,” Schuhmacher said. He continued: “It seems random — it struck a nerve. I’ve never seen anything to compare it to, in all of the [consumer packaged goods] industry. It’s a real shock.”
Read the full article at NBC News.
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