Anheuser Busch InBev has just reported a 14% drop in revenue in their third-quarter earnings, as sales of their Bud Light beer sank.
👉 Background: Anheuser Busch InBev is the world's biggest brewing company dating back to the 1850s. It owns brands like Budweiser, Busch, Hoegaarden, Stella Artois, and of course, Bud Light.
👉 What happened: Anheuser Busch InBev has just reported a 14% drop in revenue in their third-quarter earnings, as sales of their Bud Light beer sank. This comes off the back of a boycott of the Bud Light brand due to its partnership with transgender influencer Dylan Mulvaney.
👉 What else: Bud Light is now shifting gears in their marketing, and it's looking at more traditional means to reverse plunging sales.
💡Sometimes, standing for a social issue puts a business between a stock and a hard place.
💡 A large chunk of Bud Light's conversative customer base turned on the beer after its partnership with Dylan Mulvaney. In fact, Anheuser Busch saw their core profit drop by over 28% in the three months following.
💡Now, they're doing a 180 and staying away from social issues altogether to protect sales. And instead, they're looking at live sports and concerts to market Bud Light and renew customer loyalty. Yep, they're starting with the renewal of their partnership with the UFC as their official beer sponsor.
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