This is not the first time that a European company has purchased an American brand and driven it into the ground. Anheuser-Busch InBev CEO on Dylan Mulvaney: This was one influencer
Once upon a time Brachs was a huge candy brand. The largest chocolate (or maybe candy) factory in the world was in Chicago. Then they got purchased by a European candy company, and that European company preceded to to tell old man Walton that they were NOT going to do what Walmart wanted them to do. Why? because in Europe the manufacturers were in charge, and they didn't understand that Walmart could bury you. They were buried by Sam Walton.
Then there was a European aluminum can manufacturer that bought an American can company. They tried to raise prices by 10 cents per 1000 cans. Everyone bought from someone else. I'm not sure that the American company ever recovered.
How do I know this? I know people who worked at both companies in question.
In the case of Budweiser, as I said, the first thing In-Bev did was fire all of the American marketing team and bring in Europeans, who - sing the refrain with me - didn't understand the American Market. So they admitted defeat, and hired American marketers, but they made a critical mistake. The put the marketing team in New York, and hired Ivy League business people. They also did NOT understand the American market for Budweiser, Bud Light, Coors Light, Miller Light or any other (truly) American product.
Witness the result. Six weeks into the boycott and the volume of Bud Light sold is STILL decreasing week-over-week, and as compared to the same week a year ago.
The European CEO is pissed, but he still has not apologized. He hasn't fired anyone. He hasn't resigned. The American CEO of the Anheiser-Busch subsidiary hasn't apologized, hasn't resigned. Two marketing execs are "on leave." The official Bud Light Twitter account hasn't produced anything since April 14th - more than a month - because until the say "We are truly sorry," in a way that makes Americans believe them, they will only be mocked.
And it is not limited to Bud Light. Other brands have been silent. Even Stella Artois has been radio silent (on Twitter anyway) since the end of March.
I'm not 100% sure, but April 14th seems to be the day that Anheiser-Busch released their "let's pander to America" Clydesdale advert. How did that work out? It didn't.
Here is a look at the current state, since the link above is old. 'Nobody imagined it would go on this long': Bud Light sales continue to plummet over Mulvaney backlash.
According to data cited by the beverage industry trade publication Beer Business Daily, sales volumes of Bud Light for the week ending May 13 sank 28.4%, extending a downward trend from the 27.7% decline seen the week before.
Those numbers are (I believe) referenced from the same week a year ago. And we are not even into the prime, summer, beer-drinking season.
Do you think at some point woke advertising will stop, but only after larger losses of revenue and steeper declines in sales?
ReplyDeleteI think we are starting to see the true impact of Get Woke, Go Broke
DeleteBed Bath and Beyond went out of business for a lot of reasons, but one of them was pissing off conservatives.
People are fed up with Disney and are by and large not taking their kids to see movies featuring their secret, gay agenda. Bud Light is just experiencing that on a faster scale. It remains to be seen what happens to Target.
But with ESG scores still dictating some financial markets, it will be sometime before it goes the way of the Dodo.