There are consequences when a company does things that perturb your core consumers
Anheuser-Busch has lost more than $6 billion in market value in the days following its promotional partnership with transgender social media celebrity Dylan Mulvaney, with its shares falling amid a nationwide backlash against Bud Light.
Shares of Anheuser-Busch Inbev have dropped nearly five percent after Dylan Mulvaney announced the Bud Light deal at the beginning of the month, wiping out $6.65 billion of the company’s market capitalization.
Dylan Mulvaney — who was born a male but now claims to be a woman — is the latest spokesperson for Bud Light, which has honored Mulvaney with a limited release can with his face on it. In recent social media videos, Mulvaney has promoted the brand by cavorting in a bubble bath and talking about March Madness.
The partnership has instigated a nationwide backlash against the beer brand, with sales taking a significant hit across several states.
As Breitbart News reported, bars across the country are seeing customers avoid the brand. In one Missouri bar, sales of Bud Light and other Anheuser-Busch beverages have reportedly dropped by roughly 40 percent. A bar in New York’s Hell’s Kitchen neighborhood — which has a high population of gays — reportedly saw Bud Light sales drop 70 percent.
Another report found Anheuser-Busch distributors across America’s heartland and the South are being “spooked” by public backlash to the Dylan Mulvaney campaign.
Some are reporting a $3 billion loss (Daily Mail says they dropped in value from $132 Billion to $129 Billion), others say $5 billion. Some even say $7 billion. Regardless, this is just the start, as some might say “meh, that’s a drop in the bucket.” What if consumers consider just opting out of AB products? In fairness, it hit a low of $44.94 last October 10th, when inflation was raging and there were issues with supplies. Now you just have consumers saying “no, thanks.”
