Embattled beer brand Bud Light is begging consumers to start loading up on America’s most maligned suds again, which lavish incentives to distributors to obtain prime product placement on store shelves.Anheuser-Busch, the brand’s parent company, is reportedly offering distributors up to USD$150 million as part of a “market share recovery” program in the wake of its disastrous partnership with Dylan Mulvaney that reportedly cost it $395 million in lost sales and about $40 billion in its stock price..“We just want our fair share of the Bud Light debacle,” 80-year-old Dick Yuengling, CEO and fifth-generation owner of Yuengling, America’s oldest brewery.According to industry trade publications, Anheuser-Bush is offering to reimburse certain freight and fuel surcharges as well as more lenient payment terms. It’s also begging them to maintain prime shelf space at retailers such as 7-Eleven and Walmart amid complaints from other brewers who have seen their sales skyrocket since the Mulvaney debacle.The company has been forced to lay off about 2% of its workforce due to the fallout. Last week America’s oldest brewer, Yuengling, complained it wants more shelf space after its sales soared more than 80% while Bud Light’s fell 27% in the same period.Yuengling is largely out of stock in the markets where it’s available and deserves more distribution and shelf space because consumer demand is higher today than what retailers have given them, company representatives told The New York Post.“We just want our fair share of the Bud Light debacle,” 80-year-old Dick Yuengling, the company’s chief executive and fifth-generation owner, told The Post. “We are the little guy on the block so we have to fight harder, but how do we grow if they don’t give us more shelf space?”.Meanwhile, Bud’s stock price continues to sag, having lost about 20% of its value in the past six months alone. This is despite the fact Wall Street analysts are rating it a ‘strong buy’ with a target price of $76, which implies an increase of about 31% from its present level of $53.15 on the New York Stock Exchange on Tuesday.In June, Bill Gates made headlines by buying 1.7 million Bud shares worth about $96.6 million after its disastrous first half earnings report..This, even though reportedly he doesn’t touch the stuff.On an "Ask Me Anything" thread on Reddit in 2018, Gates was asked what his favorite beer is."I am not a big beer drinker," Gates wrote in response to the question, adding that if he goes to baseball games, for example, he'll "drink light beer to get with the vibe of all the other beer drinkers."
Embattled beer brand Bud Light is begging consumers to start loading up on America’s most maligned suds again, which lavish incentives to distributors to obtain prime product placement on store shelves.Anheuser-Busch, the brand’s parent company, is reportedly offering distributors up to USD$150 million as part of a “market share recovery” program in the wake of its disastrous partnership with Dylan Mulvaney that reportedly cost it $395 million in lost sales and about $40 billion in its stock price..“We just want our fair share of the Bud Light debacle,” 80-year-old Dick Yuengling, CEO and fifth-generation owner of Yuengling, America’s oldest brewery.According to industry trade publications, Anheuser-Bush is offering to reimburse certain freight and fuel surcharges as well as more lenient payment terms. It’s also begging them to maintain prime shelf space at retailers such as 7-Eleven and Walmart amid complaints from other brewers who have seen their sales skyrocket since the Mulvaney debacle.The company has been forced to lay off about 2% of its workforce due to the fallout. Last week America’s oldest brewer, Yuengling, complained it wants more shelf space after its sales soared more than 80% while Bud Light’s fell 27% in the same period.Yuengling is largely out of stock in the markets where it’s available and deserves more distribution and shelf space because consumer demand is higher today than what retailers have given them, company representatives told The New York Post.“We just want our fair share of the Bud Light debacle,” 80-year-old Dick Yuengling, the company’s chief executive and fifth-generation owner, told The Post. “We are the little guy on the block so we have to fight harder, but how do we grow if they don’t give us more shelf space?”.Meanwhile, Bud’s stock price continues to sag, having lost about 20% of its value in the past six months alone. This is despite the fact Wall Street analysts are rating it a ‘strong buy’ with a target price of $76, which implies an increase of about 31% from its present level of $53.15 on the New York Stock Exchange on Tuesday.In June, Bill Gates made headlines by buying 1.7 million Bud shares worth about $96.6 million after its disastrous first half earnings report..This, even though reportedly he doesn’t touch the stuff.On an "Ask Me Anything" thread on Reddit in 2018, Gates was asked what his favorite beer is."I am not a big beer drinker," Gates wrote in response to the question, adding that if he goes to baseball games, for example, he'll "drink light beer to get with the vibe of all the other beer drinkers."
