A former Anheuser-Busch executive says Bud Light has not recovered from the Dylan Mulvaney partnership controversy, which led to a significant drop in sales and customers. Despite advertising campaigns, the brand continues to face challenges as it grapples with its identity and tries to regain lost consumers.
Bud Light is still grappling with the fallout from the Dylan Mulvaney controversy, according to a former Anheuser-Busch executive. 'They haven't at all,' former Anheuser-Busch President of Operations Anson Frericks said Tuesday during an interview on FOX Business ' 'Varney & Co.' Despite companies pulling back from pushing politics through DEI and ESG policies, the damage to Bud Light persists as 'they continue to shed customers,' Frericks said.
The beer brand found itself in hot water in 2023 following a partnership with transgender influencer Dylan Mulvaney. This collaboration ignited a firestorm of backlash from consumers, leading to a significant decline in sales, customer base, and shareholder value. Bud Light even saw itself overtaken in sales by Michelob Ultra and Modelo Especial. Bud Light sales plummeted by 29.9% year-over-year for the week ending January 20, compared to the same period last year, according to the latest figures provided to FOX Business by Bump Williams Consulting, which analyzed NielsenIQ data. 'I think that's one of the most interesting parts about this story is that they lost 30% of their customers,' he pointed out. 'Millions of customers, billions of dollars of shareholder value over the last couple of years.' The former executive highlighted the partnership's impact on the company's stock and emphasized that the brand's attempts to recover with Super Bowl commercials wouldn't erase the damage. 'They are advertising Bud Light. And candidly, the commercials are actually pretty good,' he said. 'They have Shane Gillis who's about the opposite of Dylan Mulvaney. You couldn't have maybe someone more opposite. They have Post Malone, but the problem is they've lost a lot of their customers.'Frericks also underscored the dilemma Bud Light faces regarding its brand identity. 'Their customers are asking them, ‘hey, what is Bud Light going to be moving forward? Is it gonna be more than Shane Gillis and fun in football, or is it Dylan Mulvaney?’' 'Until the company really comes back and says clearly what Bud Light is going to be? I don't know if any of their loyal customers are going to come back,' he added.
BUD LIGHT Controversy Dylan Mulvaney Sales Anheuser-Busch Consumer Backlash Brand Identity
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