AB-InBev Loses Top LGBTQ+ Rating, Buys Unsold Beer
AB-InBev is purchasing back out-of-date Bud Light. The Wall Street Journal says so. They have also lost their top LGBTQ+ rating from the Human Rights Campaign Foundation.
Anheuser-Busch's beer volumes declined by 12.5% in April. It may be due to the backlash and boycotts because of the recent Dylan Mulvaney sponsorship deal. Meanwhile, Molson Coors and Constellation Brands saw a rise of 7.6% and 3.8% in their sales.
In April, Bud Light had a big drop of 21.4%. Budweiser, its parent brand, didn't do any better, falling 11.5%. Bud Light's rival, Coors Light, gained the most from the situation with an increase of 10.9%. The Wall Street Journal says Bud Light sales in May are down around 28%.
Bud Light's owners, Anheuser-Busch, have bought back some of their shares. They were given an award for supporting LGBTQ+ rights by the Human Rights Campaign Foundation. However, the Foundation has now written a letter to Anheuser-Busch saying they have suspended their equality rating score, which shows how well a company is treating LGBTQ+ employees.
The campaign group gave Anheuser-Busch a Best Places to Work for LGBTQ+ Equality score. But now, they need to respond within 90 days or their scores will be reduced.
Some conservative Americans still don't like Bud Light. Bud Light got influencer Mulvaney to promote them. Mulvaney dressed up as Audrey Hepburn from Breakfast at Tiffany's. She posted a video of herself opening a can of Bud Light with her face on it. She used the hashtag #budlightpartner. The issue started on 1 April.
Bud's marketeers have gone on leave. Anheuser-Busch no longer works with a specific advertising agency.
Alissa Heinerscheid, a marketing executive, said in a podcast a month before the scandal that she wanted to change Bud Light's "fratty" image. She wanted to make the brand more inclusive to keep it relevant.
The lady said on a podcast that Bud Light has been in decline for a while. She also said that if young people don't start drinking it, there will be no future for the brand.