In a surprising turn of events, a pilsner-style lager Modelo Especial has overtaken light lager beer Bud Light as the best-selling beer in the United States in May. Bud Light (BUD) was classified as the top-selling beer in the country for two decades. The controversy surrounding Bud Light’s association with Dylan Mulvaney, a transgender activist, seems to have significantly impacted its sales. As a result, Bud Light has lost its position as the number one selling beer brand in terms of revenue in the U.S. market.
The decline in Bud Light’s sales can be traced back to a boycott initiated by consumers who were displeased with the brand’s promotional campaign involving Mulvaney and personalized cans sent to social media influencers. So, is the Anheuser-Busch brand having a lot of issues as a result of transgender influencer Dylan Mulvaney’s social media post showcasing a customized Bud Light can?
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According to Barron’s analyst and editor Jack Hough, this shift can be attributed to two main factors: the growing Hispanic population of legal drinking age and a rising trend toward premiumization. He associated the reasons behind Bud Light’s fall and Modelo’s ascent firstly, to the Hispanic drinking age population. It has experienced rapid growth compared to the non-Hispanic population, contributing to increased demand for Mexican beer. Secondly, there is a prevailing trend toward premiumization, where consumers seek out higher-quality and exclusive brands. Hough referred to Modelo Especial as the “corporate premium cousin” of Corona, noting that Modelo’s sales have been steadily increasing and have recently surpassed Corona in the U.S. market.
What’s interesting is that despite being an iconic American beer, Bud Light has been owned by a European company, Anheuser-Busch InBev, for the past 15 years. The change in the distribution of Modelo beers in the U.S. came about as a result of an antitrust lawsuit. Anheuser-Busch InBev sold Modelo’s U.S. business to Constellation Brands, which now sells Grupo Modelo’s beer brands in the country.
Recent reports revealed that Bud Light sales have declined by 24.4% compared to the same period last year, with a cumulative decrease of 24.6% over the past four weeks. In contrast, Modelo Especial has become the top-selling beer brand based on revenue for both the four-week and single-week periods ending on June 3.
The impact of the Bud Light boycott continues to affect the brand’s sales. In the meantime, Modelo Especial’s success serves as a testament to the changing dynamics of the beer market.
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