Bud Light’s sales drop is accelerating amid Dylan Mulvaney fiasco

Bud Light’s downward spiral has accelerated in the wake of the Dylan Mulvaney debacle — and the carnage has begun to spill into Anheuser-Busch’s other mega-buck brands, The Post has learned.

Nationwide retail sales of Bud Light were down 23.4% versus a year ago in the week ended April 29 — worse than the 21.4% decline they suffered a week earlier, according to Bump Williams Consulting and NielsenIQ data.

Meanwhile, as beer drinkers discover how many other beer brands fall under the Anheuser-Busch umbrella, the backlash is widening, according to the fresh data.

The company’s flagship Budweiser brand took an 11.4% sales hit for the week ended April 29. Sales of Bud’s Michelob Ultra brand — the third-biggest-selling in the US behind No. 1 Bud Light and No. 2 Modelo Especial — were down 4.4%, according to Bump Williams data.

“It’s not just a Bud Light issue,” said Bump Williams, chief executive of the consultancy.

“It’s an Anheuser-Busch portfolio problem now.”

Anheuser-Busch’s smaller US brands also got dinged, with its Natural Light brand down 5.2% and its Busch Light seeing a 1.8% drop.

The widening sales declines mark a painful hit for Bud’s dominant US beer business. Last year, sales of Bud Light topped $4.8 billion, according to the Connecticut-based firm.

Modelo Especial had $3.75 billion while Michelob Ultra generated $3.3 billion in sales.

Budweiser came in at No. 7 last year with $1.83 billion in sales.

Year to date, Bud Light and Budweiser are the only top 10 US beers whose sales have dropped, with declines of 3% and 0.4%, respectively.

“If Bud Light doesn’t fix its trend by the end of this month, it will continue to lose market share because it will lose Memorial Day. That kicks off the summer season,” Williams told The Post. “There has to be a sense of urgency for InBev to correct these trends.”

It’s the fourth consecutive week of double-digit sales drops linked to Anheuser-Busch’s brief marketing tie-up with the transgender influencer, which began on April 1 when Mulvaney posted videos of herself sitting in a bubble bath drinking Bud Light.

“Anecdotally we are hearing that sales of Bud Light are declining more rapidly at bars and restaurants where some consumers don’t want to be seen drinking it or they are getting into arguments over the brand,” said Benj Steinman, editor of Beer Marketer’s Insights. 

Rival brewers, meanwhile, are gaining market share at Bud Light’s expense. Coors Light and Miller Light each saw a more than 20% sales increase in the week ended April 29 compared to a year ago, according to Bump Williams and Nielson data.

Pabst Blue Ribbon was up 18.9% while Keystone Light saw a 15% bump over the same period.

The shocking collapse of the nation’s No. 1 beer, which is experiencing one of the most emotionally charged boycotts ever, shows no signs of letting up even as Anheuser-Busch chief executive, Michel Doukeris tries to distance the company from the ill-fated Mulvaney partnership.

“We need to clarify the facts that this was one can, one influencer, one post and not a campaign,” Doukeris told investors during an earnings call last week.  

The company did not immediately respond for comment about the sales declines.

Anheuser-Busch told distributors that an outside ad agency was responsible for tapping Mulvaney to promote the Bud Light brand to the LGBTQ community, but has stopped short of naming the marketing firm.