Majority of Americans Support Boycott of Bud Light over Transgender Promotion
A recent survey conducted by Rasmussen Reports revealed that a majority of Americans are in favor of boycotting Bud Light due to its transgender controversy. The survey, which used a combination of telephone and online responses, found that 40% of American adults would be less likely to buy Bud Light due to the transgender promotion. In contrast, only 19% said the promotion would make them more likely to purchase the beer.
Anheuser-Busch InBev, the parent company of Bud Light, has lost over $6 billion in market capitalization since announcing its partnership with transgender influencer Dylan Mulvaney. The backlash and calls for a boycott have impacted the company’s stock price, which was trading at $63 at the close of the market on Wednesday, down from around $66 before the announcement. The company’s market capitalization has decreased by more than 5% and now stands at $125.73 billion.
Boycott of Anheuser-Busch Products
When directly asked if they support boycotting Anheuser-Busch products, the majority of respondents expressed animosity towards transgender marketing. 54% of those respondents strongly or somewhat supported the boycott, while only 30% opposed the boycott.
Generational Differences in Response
The survey also found a significant generation gap among respondents. While 33% of those aged between 18 and 39 were more likely to purchase Bud Light because of the promotion, only 6% of those aged 65 and older expressed such favorability.
53% of those in the 40-64-year-old group were least favorable to the ad, stating they were less likely to purchase Bud Light. In the youngest demographic, 26% said they were less likely to buy the beer due to the promotion.
Perception of Transgender Issues by Major Corporations
The survey further revealed that 52% of respondents believed that major corporations were paying too much attention to transgender issues, while only 18% believed they were not paying enough attention.
While the margin of error for the poll was +/- three percentage points, the majority of respondents favored boycotting Bud Light over its transgender promotion. Generational differences in response were also notable, with younger respondents more likely to be in favor of the promotion. Overall, the survey highlights the importance of corporations being mindful of consumer sensitivities and perceptions when implementing marketing strategies.
Bud Light’s Partnership with Transgender Influencer Dylan Mulvaney
Amidst the ongoing controversy surrounding Bud Light’s partnership with transgender influencer Dylan Mulvaney, Budweiser has launched a new advertisement with patriotic messaging and imagery in an attempt to move away from the controversy.
Bud Light’s partnership with Mulvaney has resulted in significant financial losses for the company, as calls to boycott the beer spread across the country. Alissa Heinerscheid, Vice President of Marketing for Bud Light, spoke on a podcast about the brand’s efforts to appeal to younger drinkers and revitalize its image. However, the recent campaigns and partnerships have raised concerns about the brand’s direction, as many have called for a boycott of the beer.
The attempts to appeal to a younger, politically active demographic may have overlooked its core audience of adult drinkers. Heinerscheid acknowledged that Bud Light’s past branding relied on “outdated humor” and that the brand needs to direct its advertising toward adult consumers while avoiding promoting alcohol to younger demographics, which could be seen as an equally off-putting decision.
Budweiser Back Peddles
Last week, Anheuser-Busch faced significant criticism for its partnership with a transgender influencer, resulting in a loss of over $6 billion in market capitalization. Meanwhile, the company’s new ad featuring Clydesdale horses and American landmarks has sparked a heated debate on social media, with some seeing it as an attempt to distance themselves from the controversy and regain support, while others argue it may be too little too late.