Bud Light sales continue to reel in the wake of the Dylan Mulvaney controversy, as new data shows Corona Light and Coors Light have reaped the benefits of Bud’s decline.
Data from Evercore ISI shows that in the 12-week period leading up to July 2, Bud Light’s sales volume fell by 27.1% over that timeframe – which includes much of the aftermath following transgender activist Dylan Mulvaney’s early April social media post showing the custom can Bud Light provided her with.
In that same period, rival light beers saw sales rise. Coors Light's sales volume rose by 17.8%, while Miller Lite’s increased by 14.3% and Corona Light’s ticked up by 3%.
The fallout from the Bud Light controversy has spilled over into other Anheuser-Busch InBev beers which have also suffered from sales declines.
The Bud Light family of products, which includes not only the beer but also a seltzer that shares its name, was down 28.5% in terms of collective sales volume over that period. Meanwhile, Budweiser’s sales volume dipped by 13.5% and Busch Light’s declined by 9.8% over the same period.
Collectively, Anheuser-Busch InBev beer sales were down 15.4% in the 12 weeks leading up to July 2, according to the Evercore ISI data. The company’s beer brand which has seen the smallest decline was Michelob Ultra, which was down just 4.5%.
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The beer sales volume lost by Anheuser-Busch InBev brands has contributed to gains by rival beer brands owned by Constellation Brands and Molson Coors.
In mid-June, Constellation’s Modelo Especial dethroned Bud Light as the top-selling U.S. beer in terms of dollar sales in the prior four weeks according to Nielsen data analyzed by Bump Williams Consulting. However, at that point, Bud Light remained the top-selling beer brand on a year-to-date basis.
The Evercore ISI data showed that sales of Modelo Especial were up 11% in the 12 weeks preceding July 2. Aside from the gains by Modelo and Corona Light, one of Constellation Brands’ beers that saw the most sales volume growth was Corona Familiar, which was up 26.6%. Taken together, Constellation’s beer sales volume was up 10% in the 12 weeks leading up to July 2.
This week, the stock price for Constellation Brands hit an all-time high, closing at $269.20 on Thursday – topping the prior record of $257.49 in late November 2022.
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Coors Banquet saw the biggest jump in sales volume of Molson Coors brands with a sales volume increase of 24.6% over that period, followed by Coors Light and Miller Lite. Overall, Molson Coors beers saw a 10.7% increase in the 12 weeks before July 2.
Anheuser-Busch InBev has sought to distance itself from the controversy since shortly after it began. CEO Brendan Whitworth said in April, "We never intended to be part of a discussion that divides people. We are in the business of bringing people together over a beer."
As part of the brand’s effort to move beyond the controversy, Bud Light recently launched its summer marketing campaign – the theme of which is "Easy to Summer" – which the company hopes will help reverse the recent trend.
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Todd Allen, VP of marketing for Bud Light, previously told FOX Business, "It’s incredibly clear the amount of love and passion people have for Bud Light, and we care deeply about our consumers. And what I’ve heard over the past few weeks is that people want us to get back to what we do best: being the beer of easy enjoyment. This new work is really about reaffirming the role that Bud Light plays for our drinkers: celebrating a summer of fun and entertainment through music, backyard grilling, football, and easy enjoyment."
