tldrdaily.news logo
Tag

Beer Market

All articles tagged with #beer market

business1 year ago

"China's Beer Market Booms with High-End Shift"

China's beer market, the world's largest, is set for a recovery in the second half of the year, driven by premium offerings and major sporting events like Euro 2024 and the Paris Olympics. Analysts expect higher sales of premium beers and lower costs due to cheaper barley prices, benefiting major breweries like Tsingtao Brewery and China Resources Beer. This trend is part of a global recovery in beer consumption, with companies like Heineken and Carlsberg also reporting growth.

via CNBC|
#barley-prices#beer-market#business
business1 year ago

"AB InBev's Profit Rebounds Despite Bud Light Boycott Impact"

Anheuser-Busch InBev, the parent company of Bud Light, turned a profit in its fourth quarter and fiscal 2023 results, despite a 2.6% decline in volume and a 17.3% drop in US revenue due to poor performance of Bud Light. The company narrowly avoided a strike at 12 US breweries by reaching a tentative agreement with the Teamsters, which includes improved wages, healthcare, and retirement benefits. The company is focusing on doubling down on beer and expects EBITDA to grow between 4-8% in 2024, while also contending with changing consumer preferences and competition from Mexican import beers.

via Yahoo Finance|
#anheuser-busch-inbev#beer-market#bud-light
business2 years ago

Bud Light's Market Share Declines as Competitors Gain Traction

Modelo Especial, a Mexican lager, has surpassed Bud Light as the top-selling beer in America, driven by factors such as an increasing preference for imported, more expensive beer among American consumers, a decade-old antitrust deal, and effective marketing campaigns targeting young, non-Hispanic consumers. The rise of Modelo also reflects a shift in consumer tastes towards craft beers, imports, hard seltzers, and canned cocktails. The growing Hispanic population in the US and the cultural appeal of Mexican products among non-Hispanic consumers have contributed to Modelo's success. The acquisition of Grupo Modelo by Constellation Brands in 2013 allowed for increased promotion of Modelo and Corona, further boosting their market presence.

via The New York Times|
#beer-market#bud-light#business
business2 years ago

Anheuser-Busch CEO Takes Action Amidst Bud Light Boycott Backlash

Anheuser-Busch CEO Brendan Whitworth has announced that financial assistance is being provided to wholesalers and beer distributors impacted by a two-month sales decline caused by a boycott. The boycott was sparked by a video posted on Instagram by transgender social media star Dylan Mulvaney, showcasing personalized Bud Light cans. The company lost its position as America's top-selling beer to Modelo in May. Whitworth expressed accountability for the repercussions faced by employees, consumers, and distributors and emphasized the company's commitment to supporting the LGBTQ+ community. Despite setbacks, Anheuser-Busch plans to triple its investment in Bud Light this year and focus on their upcoming summer campaign and the NFL season.

via CBS News|
#anheuser-busch#beer-market#boycott
business2 years ago

Bud Light dethroned as America's top beer after LGBTQ+ marketing backlash.

Bud Light, America's top-selling beer for over two decades, has fallen to second place in U.S. retail dollar sales, overtaken by Mexican lager Modelo Especial. Bud Light's sales have been declining since April, when it faced criticism for its LGBTQ+ marketing. While Bud Light's year-to-date market share is still higher than Modelo's, Modelo's dollar sales have been increasing by double-digit percentages every week, boosted by the launch of a new light beer. Mexican imports like Modelo and Corona have been the biggest bright spots in the otherwise stagnant U.S. beer market for years.

via The Associated Press|
#beer-market#bud-light#business
business2 years ago

Bud Light dethroned as America's top beer following marketing backlash.

Modelo Especial, a Mexican lager owned by Anheuser-Busch InBev, has overtaken Bud Light as the top-selling beer in the US in terms of retail dollar sales, according to Nielsen data. While Bud Light's year-to-date market share of 9% is still outpacing Modelo's, at 8%, Modelo's dollar sales have been increasing by double-digit percentages every week. Bud Light's sales have declined since April, when it faced backlash from critics and supporters of a transgender influencer. Both companies plan to increase marketing spending to boost sales.

via KTLA Los Angeles|
#beer-market#bud-light#business
business2 years ago

Bud Light's Sales and Reputation Take a Hit Amid Controversy.

Sales of Bud Light, the top-selling beer in the US, have continued to decline, with a 23.4% drop in retail sales compared to a year ago. The backlash against the brand has also affected Anheuser-Busch's other mega-buck brands, including Budweiser and Michelob Ultra. The sales declines have been linked to the company's brief marketing tie-up with transgender influencer Dylan Mulvaney, which has sparked one of the most emotionally charged boycotts ever. Rival brewers, including Coors Light and Miller Light, have gained market share at Bud Light's expense.

via New York Post |
#anheuser-busch#beer-market#bud-light