Bud Light is finally swallowing its pride and admitting its 2023 marketing campaign with Dylan Mulvaney wasn’t the touchdown they were hoping for. Recently, Jeremy Hambly dived deep into Bud Light’s apology.
The Backlash
The video began with Hambly sharing that Bud Light’s foray into political and social commentary backfired spectacularly, resulting in significant backlash and a decline in sales. Reports suggest a decline of 11% to 26% in the immediate aftermath, leading to a domino effect.
The Stock Price Plummet
Anheuser-Busch InBev, Bud Light’s parent company, saw its stock price plummet, and the brand lost its position as the top-selling beer in the United States.
Stay in Their Lane
Hambly shared Bud Light’s acknowledgment of their mistake, quoting the company’s promise to “stay in their lane” which comes over a year after the controversial campaign.
The Apology
Jason Warner, president of the beer company for Northern Europe, reportedly said the company would keep its marketing separate from “political and societal issues.” Hambly added that these comments could be interpreted as an acknowledgment of the marketing campaign’s divisive nature.
The Results of the Backlash
The repercussions of Bud Light’s misstep have been severe, as evidenced by the massive losses in sales and shelf space reported in the video.
While some retailers tolerated the initial sales dip, a longer-term trend has led to a reduction in shelf space for Bud Light. The video shared that retailers like Walmart and Target slashed Bud Light’s shelf space by 10-15% which is a tough blow to recover from.
Polarization of Consumer Sentiment
Hambly highlighted the implications of Bud Light’s misstep, touching on the polarization of consumer sentiment and the growing importance of corporate accountability in today’s society.
Nothing Worked
Despite throwing money at sporting events, concerts, and even a Super Bowl ad, the video shared that Bud Light is still struggling.
Sales Are Still Down
Deals with the UFC, Kid Rock, and Shane Gillis haven’t brought back the lost sales. Hambly added that studies show sales are still down 32% compared to last year.
Damage May Be Permanent
Hambly concluded the video by sharing that the damage may already be permanent. Many consumers have switched allegiances, and Bud Light regaining its lost shelf space seems unlikely.
Share Your Thoughts
So what do you think? Will Bud Light ever fully recover from this marketing misstep?
