(VitalNews.org) – The beer industry in the United States is reportedly in shock as the backlash against Bud Light continues. The market capitalization of Anheuser-Busch, which owns Bud Light, has declined precipitously, with some analysts suggesting that around $15 billion has been wiped off the value of shares since the decision was taken a couple of months ago to use the face of a transgender model, Dylan Mulvaney, to promote its products.
Analysts further predict that Anheuser-Busch is unlikely to recover its 12 percent volume decline anytime in the next 18 months, as customers switch their allegiance to other brands such as Coors, which has reported a 20 percent increase in sales equating to an increase in market value of around $2.2 billion.
In an attempt to stave off further losses, Anheuser-Busch has introduced a new promotional rebate to be rolled out in some states in time for the Memorial Day weekend. The rebate will effectively mean that customers will be getting packs of beer for next to nothing, or in some cases, for free.
For example, in New Hampshire, a 30-pack of Bud Light was on sale for $19.99 with a $15 rebate, making the price less than $5. In Wisconsin, a 20-pack of Bud Light was on sale for $14.99, which means that with a $15 rebate, Anheuser-Busch is actually paying customers to take the beer off its hands.
It is unclear to what extent the decision to use a transgender model as the face of Anheuser-Busch is likely to affect other products in its range. Conservative groups on social media are pushing for a complete boycott of all Anheuser-Busch products, not just Bud Light, and some of Anheuser-Busch’s own distributors are starting to complain that they were never consulted before the decision to use Dylan Mulvaney was made.
One cannot help but feel a little “Schadenfreude” at the trials and tribulations experienced by Anheuser-Busch. The phrase “go woke, go broke” comes to mind.
Copyright 2023, VitalNews.org
