There's a new king in town and if the negative backlash against a certain beer brand continues it looks like the king won't be relinquishing his crown anytime soon.
Modelo Especial was the United States' most popular beer during the Fourth of July holiday period after figures from Nielsen IQ data provided by Bump Williams Consulting showed that Bud Light sales dropped 23.6% year-over-year.
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Meanwhile, Modelo Especial sales were up 20.7% in the same week ending July 8.
Coors Light was also a big beneficiary from Bud Light's decline, seeing sales jump 30% year-over-year, while Miller Lite sales saw a 25.3% improvement.
Bud Light hoped to regain some momentum by going back to basics with its latest summer ad campaign, depicting friends having backyard fun and getting into alcohol-fueled shenanigans underneath the hot summer sun.
Crack a cold one: we've got an epic summer ahead. Sock tans included. pic.twitter.com/CGRCvkHC60
— Bud Light (@budlight) June 22, 2023
But those efforts have not worked as of yet.
Bud Light started the year with a 10.3% market share and had 10% of the market as recently as March 25, but the beer has seen a steady decline after offending loyal customers by hiring transgender social media influencer Dylan Mulvaney as a spokesperson.
The political right has been able to sustain consumer furor over Bud Light, which is a subsidiary of international conglomerate Anheuser-Busch InBev (BUD) -) for months, leading the company to backtrack and fire the ad executives responsible for partnering with Mulvaney.
The company's second quarter results and earnings call are about two weeks away, so there should be some clarity and hard figures concerning the boycott soon.
