Jun
According to reports, Constellation Brands has announced that Mexican lager Modelo Especial has surpassed Bud Light as the top-selling beer in the US.
Constellation Brands, the US distributor, reported sales of over $333 million for Modelo Especial in the four-week period ending May 28, representing a 15.6% increase compared to the same period last year. Meanwhile, Bud Light sales declined by 22.8%, reaching $297 million in May, as per data obtained by Newsweek.
Additional NielsenIQ sales data, also seen by the publication, revealed that Modelo Especial achieved sales of approximately $341.9 million compared to Bud Light’s $298.6 million in a similar four-week period.
Despite this recent success, Bud Light still maintains its position as the number one beer for the year to date.
Looking ahead, analysts from financial services company Jeffries suggest that the “Bud Light saga may endure.” In their survey of beer distributors, 65% believed that the “protracted Bud Light demand weakness” is expected to persist, with the controversy potentially lasting over six months. Additionally, one-third of respondents indicated a possibility of a “permanent lapse in Bud Light consumers.”
There are indications that the decline in Bud Light sales may be slowing, with NielsenIQ data showing a 23.9% decrease in sales last week compared to the same period last year. In the previous week, sales were down 29.5% year-on-year, with a revenue drop of 25.7%.
This decline follows several weeks of decreasing sales for Bud Light and its parent company, AB InBev. AB InBev has experienced a decline in sales of 10% or more across all its brands for each of the past four weeks in May.
The controversy surrounding Bud Light began after Dylan Mulvaney, an influencer, received the beer as part of the company’s ‘March Madness’ contest, coinciding with the one-year anniversary of Mulvaney identifying as a woman.
Reports claimed that marketing company Captiv8, known for connecting big brands with influencers, introduced Anheuser-Busch (AB) InBev to Dylan Mulvaney. Two AB InBev executives involved in the Mulvaney post took leave in April.
The impact of Mulvaney’s Instagram post has resulted in AB InBev losing approximately $27 billion in market value. On March 31, AB InBev’s market value stood at $134.55 billion, but by April 1, after Mulvaney’s post, the company’s value declined by almost 20% to around $107 billion by the end of May, according to the Dow Jones Market Tracker.
Salespeople for Anheuser-Busch are reportedly experiencing losses of up to $2,000 compared to a typical May due to the backlash following the endorsement video.
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