Recent reports indicate that Bud Light is supporting a pro-LGBTQ organization even after the recent backlash from conservatives. The company is doubling down on these efforts despite plummeting sales from the ensuing boycott against Bud Light for its collaboration with transgender activist Dylan Mulvaney.
Bud Light announced this week it would be partnering with the recently founded National LGBT Chamber of Commerce and providing a $200,000 donation to the organization for the second consecutive year. Bud Light stated it was partnering with “the exclusive certifying body for LGBT-owned businesses” to promote “economic opportunities and advancements.” Reportedly, the donation will go organization’s “Communities of Color Initiative,” which seeks to provide financial support to businesses owned by individuals of both LGBT and minority status.
Bud Light has started controversy on both sides of the political spectrum since the fallout from the Dylan Mulvaney promotion began in early April. Initially, it was just the boycott from conservatives who were angered by Bud Light’s decision to put Mulvaney’s face on a can of beer for a social media promotion. This initiated the boycott that has ensued for months, leading to a significant decline in sales.
Anheuser-Busch stepped in to mitigate the crisis by attempting to distance itself from Mulvaney. Anheuser-Busch CEO Anthony Doukeris tried to downplay Bud Light’s association with the transgender activist, stating it was just “one can” and not a “campaign.” He also claimed the situation was just one of hundreds of customized “influencer kits” advertising agencies send to individuals.
However, following Doukeris’ comments, the LGBTQ community began its own boycott of Bud Light. Some LGBTQ community advocates feel that Bud Light should have stood firm and disavowed the boycott while addressing “rampant anti-trans rhetoric.” Therefore, some gay bars began refusing to sell the company’s beer at their establishments.
Perhaps the latest initiative with the National LGBT Chamber of Commerce is Bud Light’s attempt to claw back customers it has turned off. The beer placed itself in a predicament by taking a stance on a polarizing social trend where it angered a substantial portion of its conservative consumer base. Then any efforts to backtrack from said stance inevitably lead to outrage from the opposite end of the political spectrum.
Business legend Kevin O’Leary called Bud Light the “poster boy for brand mismanagement.” O’Leary, whose reputation demonstrates he clearly knows a thing or two about running a successful business, slammed Bud Light for its inability to understand the preferences of its primarily male consumer base.
Bud Light has created a disastrous situation for its sales and its shareholders. The American Tribune covered Bud Light’s financial performance over the past couple of months, showing that the sales decline has progressively worsened. This suggests that the boycott is getting stronger week-over-week instead of waning out. Furthermore, Anheuser-Busch shareholders have lost billions in value. A recent report from the Daily Mail indicates that the parent company has lost nearly $26 billion in only months. If Bud Light had just stuck to brewing beer, it wouldn’t be facing these disastrous consequences.
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