{"id":1989837,"date":"2023-08-03T14:39:10","date_gmt":"2023-08-03T18:39:10","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bud-light-parent-company-reports-plunge-in-us-revenue-for-2nd-quarter-uses-china-to-offset\/"},"modified":"2023-08-03T14:40:49","modified_gmt":"2023-08-03T18:40:49","slug":"bud-light-parent-company-reports-plunge-in-us-revenue-for-2nd-quarter-uses-china-to-offset","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bud-light-parent-company-reports-plunge-in-us-revenue-for-2nd-quarter-uses-china-to-offset\/","title":{"rendered":"Bud Light&#8217;s parent company sees sharp decline in US revenue, turns to China for balance."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbud-light-parent-company-reports-plunge-in-us-revenue-for-2nd-quarter-uses-china-to-offset%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1989837&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>The Bud Light Boycott: A Lesson in Resilience and Diversification<\/h2>\n<p>The \u200bBud Light boycott had a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/vaccines-schools-and-racist-insurance-fact-checking-bidens-town-hall-claims\/\" title=\"Vaccines, Schools And Racist Insurance: \u2018Fact-Checking\u2019 Biden\u2019s Town Hall Claims\">significant impact<\/a> on its parent company, AB InBev, but thanks to Chinese beer drinkers, the\u200c <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-house-judiciary-gop-slams-microsofts-woke-agenda-welcome-hearing-with-ceo\/\" title=\"EXCLUSIVE: House Judiciary GOP Slams Microsoft\u2019s \u2018Woke Agenda,\u2019 Welcome Hearing With CEO\">company managed<\/a> to come out on top with \u2063a global profit.<\/p>\n<p>According to <a href=\"https:\/\/www.wsj.com\/articles\/ab-inbev-bud-q2-earnings-report-2023-90a57dee?mod=hp_lead_pos5\" target=\"_blank\" rel=\"noopener\">The Wall Street Journal<\/a>, AB \u200bInBev reported \u200ca 10.5 percent decline in second-quarter revenue in the U.S.<\/p>\n<p>In April, millions\u2064 of Americans began boycotting Bud Light after the company \u200cpartnered\u200d with \u200ctransgender\u200b influencer <a href=\"https:\/\/www.westernjournal.com\/dylan-mulvaney-heads-back-school-seek-lucrative-speaking-gigs-destroying-bud-light\/\" target=\"_blank\" rel=\"noopener\">Dylan Mulvaney<\/a>.<\/p>\n<p>AB \u200bInBev revealed \u2062that sales to U.S. wholesalers dropped 15 percent, while sales to retailers fell 14 percent during the second \u200bquarter.<\/p>\n<p>According to <a href=\"https:\/\/www.cnn.com\/2023\/08\/03\/business\/anheuser-busch-revenue-bud-light-intl-hnk\/index.html\">CNN<\/a>, North American \u200drevenue decreased by $395 million compared to \u200dthe same period in 2022. However, this decline was \u2063primarily isolated \u200dto the \u200bUnited States, as revenue in Canada actually rose.<\/p>\n<p>On the other \u200bhand, sales in China \u200csaw a significant increase, as reported by <a href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/ab-inbev-maintains-2023-profit-forecast-after-q2-beat-2023-08-03\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a>. AB InBev sold \u200c11 \u2064percent more \u200bbeer by volume in China and experienced a more than\u200c <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/downtown-chicago-shootings-surge-220-percent-since-2019\/\" title=\"Downtown Chicago Shootings Surge 220 Percent Since 2019\">20 percent surge<\/a> in sales of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bud-light-parent-company-reports-plunge-in-us-revenue-for-2nd-quarter-uses-china-to-offset\/\" title=\"Bud Light's parent company sees sharp decline in US revenue, turns to China for balance.\">higher-priced beers<\/a>.<\/p>\n<p>As a result, AB InBev&#8217;s second-quarter profits \u2062rose by 5 percent\u200d year-over-year, surpassing expectations of a mere 0.4 percent \u200dincrease.<\/p>\n<p>RBC analyst\u2064 James Edwardes Jones praised AB\u2064 InBev&#8217;s resilience and diversification, calling the outcome \u200c&#8221;impressive,&#8221; according to the Journal.<\/p>\n<p>However, analysts at Morgan Stanley cautioned that the full impact of the <a href=\"https:\/\/www.westernjournal.com\/video-bud-light-unpopular-one-bar-permanently-physically-removed-following-mulvaney-fiasco\/\" target=\"_blank\" rel=\"noopener\">Bud Light boycott<\/a> would only be evident in the next quarterly\u200d report, as reported by <a href=\"https:\/\/www.nytimes.com\/2023\/08\/03\/business\/bud-light-sales-decline.html\" target=\"_blank\" rel=\"noopener\">The New York Times<\/a>.<\/p>\n<p>In the four-week period ending July 22, retail sales of Bud Light plummeted by over 40 percent in certain metro areas.\u200d Sales at bars and restaurants also declined \u2063by 34 percent in the second quarter.<\/p>\n<p>Beer Business Daily publisher Harry\u2062 Schuhmacher, speaking to <a href=\"https:\/\/www.foxnews.com\/media\/bud-lights-issues-connecting-middle-america-could-avoided-expert-says\" target=\"_blank\" rel=\"noopener\">Fox News<\/a>, attributed Bud Light&#8217;s struggles to self-inflicted wounds.<\/p>\n<p>&#8220;In my 30 years of doing this, I&#8217;ve never \u2063seen anything like it. I&#8217;ve never seen such a rapid and prolonged shift in market share,&#8221; Schuhmacher\u2062 said.<\/p>\n<p>He further explained that when Anheuser-Busch moved its sales and marketing departments from St. Louis to New York in 2015, distributors warned \u2064them about\u2064 potential gaps in connecting with Middle America. Unfortunately, those warnings proved to \u200cbe true.<\/p>\n<p>&#8220;Living \u200cin that kind of\u2063 Chelsea-Manhattan bubble really disconnects you from the bars, taverns, restaurants, convenience stores, \u2064and\u2062 grocery stores\u2063 across America.\u2062 It has a cultural effect that you can&#8217;t measure, but it&#8217;s definitely there,&#8221; Schuhmacher added.<\/p>\n<p>Despite the challenges faced in the U.S., AB InBev managed to offset the decline in \u200crevenue with the success of \u2063its Chinese market. The\u200d company&#8217;s ability\u2064 to adapt and thrive in the face of adversity serves as a valuable lesson for marketers.<\/p>\n<p>Source: <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/bud-light-parent-company-reports-plunge-us-revenue-2nd-quarter-uses-china-offset\/\">The Western Journal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bud Light boycott hit its parent company hard, but AB InBev still managed to make a global profit, partly due to Chinese beer consumers. AB InBev reported a 10.5% decline in second-quarter revenue in the U.S., as millions of Americans joined the boycott, as per The Wall Street Journal.<\/p>\n","protected":false},"author":661,"featured_media":1989838,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-1989837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1989837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1989837"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1989837\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1989838"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1989837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1989837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1989837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}