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Nearly nine months after Bud Light was front and center in one of the biggest misfires in advertising history, sales of the beer are still down 30% weekly compared to the same time a year ago.
In the week ending April 8, 2023, Bud Light had reportedly experienced an 11% drop in sales, and a 21% drop in the week ending April 15, 2023. [10] As of May 1, 2023, Bud Light "off-premise sales" had dropped 26% since the start of the boycott. [10]
In the month following the advertisement, Bud Light sales dropped between 11 and 26 percent. [ 29 ] [ 30 ] [ 31 ] During a May 4, 2023, conference call with investors, Anheuser-Busch InBev's CEO Michel Doukeris said the drop in Bud Light sales "would represent around 1% of our overall global volumes for that period".
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"So for Bud Light or brands like Bud Light who say, 'Oh, we didn't mean to offend you; sorry, we'll take a step backward to sit in the middle, not being on either side,' both sides go, 'Meh, no ...
“Michelob Ultra has been on a path to surpass Bud Light as the #1 brand on draft (by total taps) for a number of years. The news is Michelob Ultra did it — we have a new #1.”
A vendor sells Bud Light and other cold beverages during the Washington Nationals and Cincinnati Reds game at Nationals Park on July 06, 2023, in Washington, DC. (Rob Carr/Getty Images) (Rob Carr ...
Certainly, the company benefited from the Bud Light boycott. But the effects may not be long-term. For retail investors, the time to take advantage of Molson’s good fortune may have passed.