Budweiser was once the top-selling beer in the country, suggesting the beverage was truly the “King of Beers” from the consumer’s perspective. Now, Budweiser is falling, and a lack of interest in the brand by Millennials, who have not shown it the same favor as Gen X beer drinkers, is at least somewhat to blame.
Millennials, according to a report by Business Insider, are less likely than members of the general population to recommend Budweiser. They also have a lack of interest in the more traditional beer industry, favoring wine and spirits, or seeking out craft beers instead.
However, even with these shifts, Budweiser has remained in the top three since the 1970s. The brand held the top spot until 2001 when it was unseated by its brethren beverage, Bud Light.
In 2011, Budweiser fell to number three on the list when Coors Light snagged second place.
Miller Lite now hold third, causing Budweiser to tumble to fourth.
Even though other beers have seen declines in overall sales, Budweiser’s has been more dramatic, leading to a change in position and a new top three without Budweiser being on the list.
According to CNN Money, the top 10 beer brands held 66 percent of market sales a decade ago. Now, the top 10 beers only hold 50 percent, with craft beers making a larger impact in the market.
However, even craft beers are showing signs of slowing, shipments falling for six of the top seven.
Overall, beer penetration slipped 1 percent between 2016 and 2017 while wine and spirits remained unchanged. It continued to fall during 2017 as well, potentially by a similar margin.
Ultimately, Millennial drinking habits are shifting the marketplace, and they’ve decided that Budweiser isn’t the “King of Beers” in their eyes.