Using their wallets to vote American beer drinkers have revised their list of favorites, pushing Bud Light down from their top ten preferred brands.
According to recent data from a YouGov survey, Bud Light now shares the 14th position on the country’s popularity list, a drop from the ninth rank it held in 2022, as reported by Newsweek.
The beer’s waning popularity appears to coincide with the company’s decision to become more ‘woke’ by aligning with Dylan Mulvaney for a March Madness promotion.
In the wake of the promotional event, both sales and popularity of Bud Light have experienced a marked downturn.
This decline is not particularly surprising given the traditionally conservative values of a significant portion of their demographic.
The aftermath of the March Madness campaign seems to have left Bud Light reeling.
Anheuser-Busch, the parent company, has witnessed a significant drop in stock price since the start of April.
From an earlier value of $66.73, the share price closed at $55.50 last Friday, marking a decrease of 16.829%.
The YouGov survey reveals that Bud Light’s popularity is waning at a brisk pace, signaling an adverse trend for the brand.
As the company grapples with this downturn, the future looks challenging.
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With no visible signs of recovery, the pressure on Anheuser-Busch and Bud Light continues to build.
Data suggests this negative trend could persist into the upcoming football season.
Latest sales reports indicate a more than 30% drop in sales by units.
As the brand’s ranking plummets, it is losing millions weekly, thereby forfeiting its status as America’s top-selling beer.
The title of America’s favorite beer now goes to Modelo.
In retrospect, Bud Light’s decision to partner with Dylan Mulvaney appears to have been a massively costly misstep.
The fallout serves as a sobering reminder of the potential consequences for companies when they misjudge their demographic’s preferences or values. “
Go woke, go broke,” as some observers have commented, succinctly encapsulates the current predicament.
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