What factors have contributed to the decline in sales of Bud Light in the US?

Bud Light's decline in sales in the US can be attributed to several factors, including a conservative backlash resulting from a collaboration with transgender TikTok personality Dylan Mulvaney. This backlash has led to a significant drop in Bud Light sales since April, with some high-profile figures publicly criticizing and boycotting the brand.

The controversy has not only shaken Anheuser-Busch InBev (AB InBev), Bud Light's parent company, but it has also accelerated trends that were already reshaping the US beer industry.The popularity of craft beers, imported beers, and other drinks was already eroding Bud Light's dominance, and this cultural conflict has further intensified this trend. Rivals like Molson Coors and Modelo Especial have seen their volumes rise, with Modelo Especial even surpassing Bud Light as the country's best-selling beer in May.

Apart from the specific controversy, there has been a broader decline in mass-market domestic beers as consumers show a preference for craft beers and imports. Ready-to-drink cocktails and spirits have also been gaining market share, with spirits overtaking beer in 2022. Bud Light's challenges are not limited to the recent controversy; it also lags behind Corona and Modelo among beers preferred by Gen Z consumers.

Despite attempts to broaden its appeal and be more inclusive in marketing, analysts doubt that the drinkers alienated by the Mulvaney tie-in will return. As a result of these trends, AB InBev's US revenues fell by 10.5% in the second quarter, indicating the significant impact of changing US beer tastes on the company's bottom line.

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