Global beer giant Anheuser-Busch InBev said its US sales tumbled 13.5% in the latest quarter, as a persistent boycott of Bud Light continues to roil the company.
The US is the brewer’s largest market – and where it seemingly cannot overcome the disastrous fallout from a marketing campaign in April with transgender influencer Dylan Mulvaney.
Bud Light was dethroned this summer as the top-selling beer in the US by Mexican import Modelo.
The largest brewer in the world said US revenues fell nearly 14% from July through September, while other global regions including the Middle East, Africa, and Asia-Pacific grew. The company said sales in Europe were “soft.”
Overall revenues for the Belgian-based conglomerate rose 4% to $15.6 billion and EBITDA sunk by 29.3%. It’s the second consecutive quarter in which sales in the US have declined.
In August, AB InBev CEO Michel Doukeris said on an earnings call, “In the US, we are listening and actively engaging with our consumers … They want to enjoy their beer without a debate, they want us to focus and concentrate platforms that all consumers love.”
The company, he added at the time, remains confident in Bud Light’s brand recovery.
Management said today that it’s continuing to stick to uncontroversial marketing campaigns in the US, including offering scholarships to military families, according to The Wall Street Journal.
The company also announced a multiyear sponsorship deal this month with the Ultimate Fighting Championship to win back its core customers in the US, where some of its other beer brands, including Budweiser and Michelob Ultra experienced sales declines.
It was a coup for Bud Light since it was replacing its number one rival Modelo as the UFC’s official beer.
But many beer experts say they believe that a core group of Bud Light’s longtime customers have left the brand for good.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
