It was a paid social media ad campaign with a transgender individual by the most blue collar beer company in all of America. The bread and butter customer base for bud light was dive bars, bowling alleys, darts leagues, baseball games, football games, rodeos, country music shows, and millions of joe 6 packs buying cheap beer on the weekends.
Their partnership with Mulvaney sparked an outrage that has cost them $20 Billion dollars of their stock valuation and around 25% of the bud light market share. At least two marketing executives have been placed on '"involuntary leave". Their stock has been downgraded by several key people in the financial industry.
On top of that the alternative LGBT+ community is now really mad at Bud Light also. They have lowered their perfect score as being an inclusive place to work and several gay bars have stopped serving bud light also. They are seen as not being inclusive enough now because they didn't aggressively enough support Mulvaney when the backlash started. This may hurt In Bevs ESG score and make it more difficult for them to acquire cheap business loans.
Everyone on both sides of the culture war is mad at Bud Light, and their brand & company have been severely damaged by this massive event in the industry. Their direct competitors for cheap light beer are seeing massive sales increases Coors Lite is +23% and Miller Lite +19%.
This is an incredible example of how engaging in intersectional dynamics is a huge mistake for companies. Bud light would still be the #1 beer in America if they had not partnered with Mulvaney. Once again I have no problem with Mulvaney, but I can clearly see this was really stupid move for Bud Light to make if they want to maximize profits in America.