Bud Light’s parent company, Anheuser-Busch, has seen its market value plunge $15.7 billion since the disastrous campaign with transgender-influenced Dylan Mulvaney.
Since April 1, the company has steadily fallen in the rankings, with experts saying it “keeps getting worse every week”.
But their competitors have added $3.2 billion in market value to their brands in the same time.
Molson Coors, owner of Coors Lite, saw its market value increase by $2.2 billion, or around 20%, while Heineken hit a peak of $1 billion, an increase of 1.7%.
Bud Light sales are down more than 23% since the week ending May 6, according to JPMorgan beverage analyst Jared Dinges.
Since April 1, when Mulvaney released the announcement with Bud Light, the company has steadily fallen in the rankings, with experts saying it “keeps getting worse every week”.
He said the bank expects volume to decline 12-13% in a year in the United States.
“We believe there is a subset of American consumers who will not be drinking Bud Light for the foreseeable future,” analysts said Tuesday.
He added: “The shares have underperformed their European beer counterparts by 15% since the start of April.
“We believe this is due to US uncertainty, as investor attention has shifted squarely to the potential impact of the Bud Light controversy.”
The expected decline in earnings, before interest and taxes, will follow a 12% drop in volume and a 10% drop in sales.
In the company’s latest attempts to deal with the backlash, Anheuser Busch told wholesalers it would buy back unsold cases of Bud Light that have passed their expiration date.
Mulvaney posted the content to coincide with the NCAA March Madness tournament, before joking she didn’t know what sport she was promoting.
Experts also warn that there is a risk of shortages of competing beers, due to high demand.
Beer Business Daily editor Harry Schuhmacher told Fox News Digital that ‘the whole industry is in shock’ over the numbers
Mulvaney released the content to coincide with the NCAA March Madness tournament and sparked the backlash against Bud Light
Beer Business Daily editor Harry Schuhmacher told Fox News Digital that “the whole industry is in shock.”
He says the new demand for non-Anheuser-Bush lagers could have a ripple effect on the industry.
He said: “Even Bud’s contestants don’t really dance on the grave because they know it could have happened to them.”
“You can’t just flip a switch and make beer. You know, beer is brewed. It takes, you know, at least two weeks to make.
“So they haven’t had any major supply issues yet, but we’re about to hit Memorial Day and we could probably see some supply shortages there.”
Schuhmacher even claimed that Molson Coors might not be able to give Americans enough beer for Memorial Day weekend.
The Mulvaney deal came after the brand’s ousted chief marketing officer, Alissa Heinerscheid, said she planned to update the “fratty” and “out of touch” brand.
Industry analysts have warned that unless something drastically changes, the negative volume trends will continue into the summer.
Bud Light sales have fallen dramatically since the beer partnership with Dyland Mulvaney and JPMorgan analysts expect it will knock Anheuser-Busch’s profits by 26% this year
A new profile of the company’s management of PR, social media and sales backlash admits the company and CEO Michel Doukeris (pictured) are trying to address their failures
Reported move is Bud Light buying back unsold and expired cases of beer
For the week ending May 6, in-store sales of Bud Light in the United States were down 23.6% from a year earlier. And the previous week, ending April 29, sales fell 23.3%.
This follows the drop in sales for the week ending April 22, which was 21.4%. And seven days earlier the drop was 17%, according to NielsenIQ data provided to Dailymail.com by Bump Williams Consultancy.
The data – showing US sales falling 20% every week – has since been called “poor” by industry experts.
Bump Williams of Bump Williams Consultancy told DailyMail.com: “I don’t think the sales/volume decline will get any worse, but I do think their negative volume trends will continue.”
He said the 20% drop in sales seems like the new “norm” for Bud Light.
But he added that experts are waiting to see what happens to sales over Memorial Day and the summer selling season to assess whether the damage will continue.
