Bud Light is no longer the bestselling beer in the nation as the Anheuser-Busch-owned brand suffers the consequences of a boycott that was called in the wake of its marketing partnership with transgender social media influencer Dylan Mulvaney.
Modelo Especial, the Mexican lager, was the most popular beer brand in the country during May, according to data compiled by consulting firm Bump Williams.
In the four weeks that ended June 3, the Modelo brand represented 8.4% of retail beer sales, according to data cited by The Wall Street Journal.
Modelo, whose US division is owned by Constellation Brands but which is sold internationally by Anheuser-Busch InBev, beat out Bud Light, which represented 7.3% of retail sales.
Sales of Bud Light have been steadily declining week by week since the Mulvaney controversy sparked boycott calls on social media.
In the week that ended on June 3, sales of Bud Light were down 24.4% compared to the same week a year ago, according to Bump Williams.
Beer brands in the Anheuser-Busch portfolio have also seen sales lag in recent weeks, including Budweiser and Michelob Ultra.
Competitors such as Coors Light and Miller Lite — both of which are properties of Molson Coors — have seen their sales gain at Bud Light’s expense.
The data from Bump Williams corresponds to sales information provided by other industry insiders.
According to research firm Circana, sales of Bud Light fell by 23% year-over-year in May to $297.3 million while rival lager Modelo Especial was catapulted to the top spot, generating $333.1 million — a 15% increase year-over-year.
The figures from Circana were reported over the weekend by Insider.
An Anheuser-Busch distributor who doesn’t carry Modelo told The Journal: “Our year is screwed.”
Since the start of April, when Mulvaney’s social media posts touting Bud Light first appeared, the stock price of Anheuser-Busch has fallen around 15%.
The company’s market capitalization has fallen by nearly $20 billion during that period.
Shares of Anheuser-Busch were trading at more than 2.3% higher as of 12:20 p.m. on Wednesday.
Credit: Source link
