Bud Light, facing declining sales due to a boycott over its association with transgender activist Dylan Mulvaney, has doubled down and announced a $200,000 donation to the National LGBT Chamber of Commerce (NGLCC).
Despite the backlash and the significant drop in Bud Light sales, the company has decided to support the NGLCC’s Communities of Color Initiative.
This initiative aims to provide support to minority LGBTQ+-owned businesses through various means, including certification, scholarships, and business development programs.
The goal is to create equal opportunities for economic advancement within the LGBTQ+ community.
As part of their support, Bud Light will also contribute to the “Biz Pitch” program, allowing minority LGBTQ+ business owners to compete for a $5,000 grant and a chance to win a $50,000 grand prize at the NGLCC’s annual conference.
Anheuser-Busch, the parent company of Bud Light, emphasized their ongoing commitment to being a beer that is accessible and enjoyed by everyone of legal drinking age.
The company expressed their enthusiasm for continuing their partnership with the NGLCC, saying LGBTQ+ businesses are important and contribute to bringing people together.
The NGLCC expressed gratitude for Bud Light’s ongoing support, particularly in empowering and assisting minority LGBTQ+ business owners and entrepreneurs.
They highlighted the significant role these individuals play in communities across the United States.
It’s worth noting that Anheuser-Busch has been actively involved in supporting LGBTQ+ causes for more than two decades, having donated over $13 million to date.
However, the boycott has taken a massive toll on Bud Light’s sales and Anheuser-Busch’s market value.
Recent reports indicate another massive decline of nearly 30 percent in Bud Light sales for the week of May 20 compared to the previous year.
Additionally, Anheuser-Busch’s market value has dropped by $15.7 billion since the start of the boycott, with its stock falling from $66 on March 31 to $54.
The ongoing boycott and the financial impact it has had on the company serve as a testament to the significant divide among consumers regarding issues related to gender identity and left wing political activism.
As Bud Light continues to navigate this challenging situation, it remains to be seen how their partnership with the NGLCC and their support of LGBTQ+ causes will influence their future sales and market value.
Given how the past few weeks have gone my guess is this contribution to the National LGBT Chamber of Commerce will not help to increase sales of Bud Light or any Anheuser-Busch products.
