The Bud Light boycott is a success beyond anyone’s wildest imagination.
For the first time a woke corporation is on defense.
And Bud Light is in panic mode after this damning report just came out.
Anheuser-Busch is coming to rue the day it signed off on a sponsorship campaign for Bud Light with transgender social media influencer Dylan Mulvaney.
Mulvaney is a biological male who not until very recently began wearing women’s clothing and acting like the stereotype of a teenage girl from an ‘80s high school comedy movie.
What Anheuser-Busch saw was a potential gold mine in the form of Mulvaney’s ten million TikTok followers.
But what Anheuser-Busch never took into consideration was the fact that shoving transgenderism in the face of its customer base would serve as a major turnoff.
Americans fed up with woke corporations imposing their values on society and meddling in the culture war made their displeasure known in the only way they know how.
They stopped buying Anheuser-Busch products.
Bud Light sales dropped 26 percent by the week of April 22.
But customers were not just rebelling against Bud Light.
Americans took out their anger on Bud Light promoting transgenderism as the new thing by boycotting all of Anheuser-Busch’s beer products.
Anheuser-Busch is on the verge of cratering as a company.
HSBC Bank changed its recommendation on Anheuser-Busch’s stock from “buy” to “hold.”
Fox News reports:
HSBC has downgraded Anheuser-Busch InBev stock to hold amid a “crisis” following Bud Light’s marketing campaign featuring transgender activist Dylan Mulvaney.
Carlos Laboy, managing director at HSBC’s global beverage sector, told CNBC that there are “deeper problems than ABI admits” after the social media partnership with Mulvaney in April.
“Is ABI’s leadership getting the brand culture transformation right? It’s mixed,” Laboy wrote Wednesday in a note.
“At Ambev, we think the answer is ‘yes;’ in the US, we think it’s ‘no.’ The way this Bud Light crisis came about a month ago, management’s response to it and the loss of unprecedented volume and brand relevance raises many questions,” Laboy continued.
A “sell” recommendation from major banks to stockholders could trigger a panic that would see the company lose billions through stock values crashing as investors sold their shares so as not to be the last ones on this sinking ship.
Anheuser-Busch is pulling out all the stops to arrest their slide in fortunes.
Company CEO Brendan Whitworth issued a statement apologizing for involving the company in a contentious social issue like championing the transgender lifestyle.
Anheuser-Busch also put the two woke marketing executives that approved the Mulvaney sponsorship campaign on a leave of absence.
And finally, the company fired the third-party marketing agency that proposed the Mulvaney deal.
None of these exercises in damage control did the trick.
It appears like everyday Americans are intent on sending a message to Anheuser-Busch — and other major corporations — that going woke means you go broke.