An apology remains the best way to admit you messed up and for a corporation as big as Anheuser Busch InBev (BUDFF) their apologies come with a cash value.
Bud Light plans to provide financial assistance to its independent wholesalers (distributors) in order to ease the financial burden that has been caused by the boycott against the company.
DON'T MISS: Bud Light Loses Its Top Selling Crown as Boycott Drags Sales Down
The company says it will look at "prior performance impact" on an individual wholesaler basis and provide a "sales incentive payment" to them for beer sold through the end of 2023.
The company will also extend additional credit to wholesalers and will reimburse them for freight/fuel surcharges through the end of the year.
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"We recognize that over the last two months, the discussion surrounding our company and Bud Light has moved away from beer and this has impacted our consumers, our business partners, and our employees," AB InBev CEO Brendan Whitworth said in an Securities and Exchange Commission filing this week.
"We are a beer company, and beer is for everyone."
This week Bud Light lost its standing as the United States' highest selling beer as sales have dropped about 25% year over year.
Modelo Especial, which is sold in the U.S. by Constellation Brands (STZ), now represents 8.4% of U.S. retail-store beer sales compared to 7.3% for Bud Light.
Bud Light started the year with a 10.3% market share and had 10% of the market as recently as March 25, but the beer has seen a steady decline after offending loyal customers by hiring transgender influencer Dylan Mulvaney as a spokesperson.
