American sales of Anheuser-Busch InBev tanked in the third quarter, the company revealed on Tuesday, yet more proof that American consumers succeeded in boycotting the company for sponsoring transgender influencer Dylan Mulvaney.
Globally, Anheuser-Busch InBev reported generally positive figures in sales and revenue for the third quarter, measuring metrics from July through September. But those numbers were “partially offset” by a 17% decrease in U.S. sales over the same period and a massive 13.5% drop in revenue. Overall, there was a 29.3% decline in adjusted U.S. earnings.
Executives attributed the drop-off in sales “primarily due to the volume decline of Bud Light.”
The dismal U.S. numbers are the second consecutive quarter of cratering sales and nosediving revenue in the U.S. after the boycott began in April. But there are signs it could turn around for Anheuser-Busch InBev.
AB InBev CEO Michel Doukeris told analysts on a call that company research shows that 40% of customers who stopped drinking Bud Light are willing to give the brand a second chance, CNN reported.
“This gives us some certainty that we are moving in the right direction,” he said, according to CNN. “We have a good grip on what we need to do and how we are proceeding from here.”
Specifically, Doukeris said that company executives understand that customers want the company to “focus on beer” because they want “beer without a debate.”
Doukeris’ admission is good news.
First, it demonstrates that consumers still hold the power of the purse because, six months later, Anheuser-Busch InBev is still reeling from the boycott. Bud Light drinkers were angry, and they made their voices heard loud and clear. Second, it shows that Anheuser-Busch InBev executives are listening to their customers.
They want your business, and it appears they are willing to do what it takes to earn it back.
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