On that day, a brand that had been the top-selling beer in America for over two decades launched a social media campaign that would rock its customers, and not in a good way. Starring a transgender activist, Dylan Mulvaney, it celebrated Mulvaney’s first year of “girlhood.” .. millions of consumers from across the political spectrum were offended by it, too. Nearly two years later, Bud Light has yet to win beer lovers back; sales remain roughly 40 percent below where they were before the boycott began. Some analysts say the beer might never recover.