Hard seltzer sales drop as Bud Light boycott continues: Chart of the Day

Sales of hard seltzer products have reportedly dropped as the Bud Light boycott continues to impact the brand, seeing sales declines of over 50 percent. Yahoo Finance Live anchor Rachelle Akuffo breaks the data down in today's Chart of the Day.

Video Transcript

RACHELLE AKUFFO: Well, traditional hard seltzer sales are taking a dive falling 19.5% in the last four weeks, as according to the latest data from Evercore ISI. Now, Bud Light Seltzer is leading that charge. Taking a major hit seeing sales decline 55.2%.

This comes as Anheuser-Busch's Bud Light has fallen from its titular role as the United States top selling beer. Replaced by Modelo Especial who are owned by Constellation Brands. The ongoing boycotts against Bud Light for partnering with transgender influencer Mulvaney have seen overall sales decline to 25% in the past several weeks.

Now, the major drop in sales is having negative impact across the business with distributors saying that their year is screwed, according to the "Wall Street Journal." We'll continue to track that for you.