Anheuser-Busch InBev, the parent company of Bud Light, is facing a significant decline in profits as the beer brand continues to suffer from a boycott. The company recently reported a 10.5% drop in U.S. revenue for the second quarter and a decrease of 28.2% in earnings before taxes, interest, and depreciation.
Despite these challenges, Anheuser-Busch insists that the majority of U.S. consumers still hold a favorable view of the Bud Light brand. They conducted a survey of 170,000 consumers and found that the brand’s image is still favorable among the majority of consumers.
However, customers have provided feedback and expressed their expectations for Bud Light. They want the brand to focus on its core product, beer, and to provide a beer-drinking experience free from debates. Additionally, consumers have expressed a desire for Bud Light to concentrate on platforms that appeal to a broader audience, such as the NFL, veteran charity Folds of Honor, and music.
While Bud Light’s sales have experienced a significant downturn, Anheuser-Busch has reported an increase in combined revenues from other global brands like Budweiser, Stella Artois, and Corona. These brands have seen divergent fortunes compared to Bud Light.
One reason for Bud Light’s decline is the rise in popularity of alternative beers like Coors Light and Miller Lite. These beers have surpassed Bud Light in total industry dollars, partly due to Bud Light’s marketing campaign featuring transgender activist Dylan Mulvaney.
In an effort to regain the top spot in the market, Bud Light is shifting its advertising focus. They are now highlighting quintessential American favorites like football and country music to appeal to consumers.
Despite recent struggles, Anheuser-Busch remains hopeful that Bud Light’s popularity will rebound and regain its standing in the market. They are working to address consumer expectations and improve the brand’s image moving forward.