Bud Light Got Slammed by Likes Of Ron DeSantis, Kid Rock — Now It's Regaining Its US Popularity, Shows Survey

Bud Light is regaining popularity among American consumers, as per a Deutsche Bank survey.

What Happened: According to a report by Business Insider on Thursday, Deutsche Bank revealed that Anheuser-Busch InBev’s BUD beer brand, Bud Light, has shown “substantive signs of progress” in August. This comes after the brand faced a conservative backlash due to its partnership with transgender influencer Dylan Mulvaney.

The bank’s survey showed that the percentage of former Bud Light consumers who were very unlikely to buy the brand in the next 3-6 months has dropped from 18% to 3%. Additionally, the number of beer drinkers unwilling to buy the brand has decreased from 21% in July to 19%.

The backlash began when Mulvaney promoted Bud Light in a video as part of a partnership, which led to criticism from figures like Kid Rock and Ron DeSantis. Following this, Bud Light lost its top spot as the best-selling beer in the US to Modelo.

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Deutsche Bank believes this improvement in sentiment towards Bud Light is a trend and not just volatility. The bank reiterated a ‘buy’ target for Anheuser-Busch stock and expects it to rise 27% to around 65 euros ($71) a share.

Why It Matters: The controversy traces back to April 2023 when Bud Light sales dropped 17% due to a marketing controversy featuring Mulvaney. This led to many Bud Light consumers voicing their frustration on social media, even resulting in celebrities and musicians, including Travis Tritt and Kid Rock, boycotting the brand.

Despite a noticeable dip in sales, Anheuser-Busch’s stock remained resilient, even witnessing a 4% rise in the aftermath of the controversy. The company responded to the backlash by placing two marketing executives on leave.

By June 2023, the controversy had escalated with public boycotts leading to a significant drop in Bud Light’s sales, causing the brand to lose its position as the top-selling beer in the U.S.

However, a turning point seemed to appear in August 2023 when popular podcaster and comedian Joe Rogan endorsed Bud Light on his podcast.

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