Bud Light is in crisis mode after a top competitor made this shocking confession
Bud Light is being crushed by an ongoing boycott after going woke.
It’s opened the door for the brand’s competition to move in.
Now Bud Light is in crisis mode after a top competitor made this shocking confession.The boycott that began in April, against Bud Light over its partnership with transgender social media influencer Dylan Mulvaney, has inflicted a massive financial toll on the brand.
Bud Light lost its crown as the best-selling beer in the country after more than two decades to Mexican lager Modelo Especial.
Now the boycott shows no sign of letting up as the woke light beer’s sales continue to plummet.
Beer Business Daily publisher Harry Schuhmacher predicted that many of the brand’s boycotting customers “are just lost forever.”
Bud Light’s pain has created an opportunity for its competitors to gain.
Molson Coors has emerged as a bigger winner from Bud Light’s woke fiasco. Beer drinkers are increasingly turning to Molson Coors beers like Coors Light and Miller Lite after ditching Bud Light.
The company turned in a memorable 2023 after it saw shares of its stock surge after the Bud Light boycott broke out.
Molson Coors added more than $2 billion to its market value since April 2023 and shares of the company’s stock are up nearly 18% since then.
After the boycott began, the company turned its strongest quarter in the second quarter of 2023 since it was created in the 2005 merger between the Coors Brewing Company and Canadian brewer Molson.
Molson Coors’ CEO Gavin Hattersley predicted in October that the beer market had undergone a “permanent shift” in the aftermath of the woke controversy. “We are seeing share and market improvement everywhere, and more consumers are reaching for our beers than our competitors’ beers,” Hattersley told investors.
The company reported in August that the combined sales of Miller Lite and Coors Light were 50% higher than Bud Light after the boycott began.
Molson Coors is trying to capitalize on its momentum by investing $100 million more into its marketing.
The increased demand for Miller Lite and Coors Light could close the door on any hopes that Bud Light had for a comeback.
Retailers are preparing to reallocate their shelf space in the spring and Bud Light is poised to lose valuable real estate in stores after the brand became toxic.
Molson Coors products are poised to gain more shelf space while Bud Light is going to lose space.
Consumers will have fewer opportunities to choose Bud Light at their favorite retailer.
Bud Light is paying a steep price for insulting its core customers and refusing to apologize to them after going woke.
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