Bud Light is looking to make a comeback this NFL season. Molson Coors is working to make sure it won't happen.
"Tracked channels have reached a point of stabilization at significantly lower levels for Anheuser-Busch InBev than pre-controversy," Robert Ottenstein, senior managing director and partner at Evercore ISI, wrote in a note to clients.
If current trends continue, Ottenstein added it raises the possibility of "significant structural changes" in the industry. Philadelphia Eagles' Jason Kelce chugs a Bud Light during the first round of the NFL Draft on April 27, 2023, at Union Station in Kansas City, MO. In its new ad campaign, Bud Light shares lifetime football fans' rituals around the sport and drinking beer.
"It's really the art of building associations between the brand, ... thoughts, emotions, and experiences that then drive purchase behavior," Korschun said. "In this case, they're saying, 'We had these strong connections before. ... We're going to recapture those associations and rebuild them.'"
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