Market Analyst Gives Bud Light Horrible News About Future: 'No Recovery'
Things just keep getting worse for Bud Light.
It has now been four months since the Anheuser-Busch InBev beer brand partnered with transgender activist Dylan Mulvaney for a promo that generated a massive backlash from its existing customer base.
The backlash resulted in the dismissal of the executives who were responsible and a massive drop in sales and revenue that even the Fourth of July holiday could not stop.
Despite Bud Light’s desperate efforts to get people to move on from the controversy and stop boycotting the brand, the conservative boycott shows no sign of abating.
On Wednesday, RBC Capital Markets analyst James Jones said Bud Light’s prospects for the immediate future are grim.
“We assume no recovery in Bud Light [this year],” Jones said, according to Yahoo Finance.
Other analysts also have commented that trends in the market indicate Bud Light remains a toxic brand to many Americans.
“Recent data continues to show that tracked channels reached a point of stabilization at significantly lower levels for Anheuser-Busch InBev than pre-controversy,” Evercore ISI analyst Robert Ottenstein wrote in a note, Yahoo reported Tuesday.
This statement came in a report that said Nielsen data showed Bud Light sales tanked 26.5 percent in the week ending Aug. 5, which was worse than the 25.9 percent drop for the period ending June 17.
In short, there seems to be no sign of any sort of recovery for Bud Light.
The continuing sales struggles are bad news for Anheuser-Busch, and the situation stinks for any workers whose jobs are potentially on the line.
But there is no denying that the company brought this upon itself.
Bud Light had an existing loyal customer base, but its leaders chose to disregard that by throwing in their lot with a woke influencer whom most people just find really obnoxious.
Worse, in explaining their reasoning for doing so, they decided to insult their existing customers, essentially ensuring that they never return to Bud Light ever again.
Brands might want to think carefully about this before deciding to embrace transgenderism or other parts of the woke agenda.
Bud Light sales are still down 26%
Target just had its first sales drop in 6 years
Disney lost $1.9 billion at the box office over the last 15 months
Keep hitting them where it hurts
— End Wokeness (@EndWokeness) August 17, 2023
If they do not want to become the next Bud Light, they will take the consumer into account before making such a decision.
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