Bud Light sales declines are accelerating rapidly. Driven by backlash from an advertising campaign with transgender influencer Dylan Mulvaney, Bud Light sales have now declined for six weeks, per Nielsen.
New data from Nielsen revealed Bud Light sales declined 24.3% year-over-year in the week ending May 20 while Budweiser sales were down 20.4% during the same period. Last week sales were down 21.6% and 17.6% respectively. Driven byfrom an advertising campaign with transgender influencer Dylan Mulvaney, Bud Light sales have now declined for six weeks, per Nielsen.
"There continues to be contagion to the wider ABInBev brand portfolio, with Budweiser, Busch and Michelob all weak again," Hales wrote in a note on Tuesday. "Meanwhile, Coors Light continue to see share gains accelerate. The latest data shows little sign that consumers are moving on from the Bud Light controversy, and we expect these issues will continue to weigh on investor sentiment.
On a call with investors following the release on May 4, AbInBev CEO Michel Dimitrios Doukeris didn't sound any alarms about the controversy's impact. "When you have outsized shifts to volumes like this, it's not so much what happens to the category. It's who benefits," Wedbush Securities consumer equity research analyst told Gerald Pascarelli Yahoo Finance. "And Molson Coors is clearly the outsized beneficiary here."
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