Analyzing the Impact of COVID-19 on Business Performance through the Case-Study of a Green Italian Start-Up

first_pagesettingsOrder Article Reprints Open AccessArticle Analyzing the Impact of COVID-19 on Business Performance through the Case-Study of a Green Italian Start-Up by Chiara Iacovacci 1,Myriam Caratù 2,*ORCID,Giuseppe Addamo 3 andVincenzo Grasso 4 1 Independent Researcher, 00183 Roma, Italy 2 Faculty of Economics, Università degli Studi Internazionali di Roma, 00147 Roma, Italy 3 VAIA, Via Puisle, 23 Borgo Valsugana, 38051 Trento, Italy 4 Treatwell IT, Via Carlo Farini, 41, 20159 Milano, Italy * Author to whom correspondence should be addressed. Sustainability 2023, 15(17), 12949; https://doi.org/10.3390/su151712949 Received: 31 May 2023 / Revised: 31 July 2023 / Accepted: 7 August 2023 / Published: 28 August 2023 (This article belongs to the Special Issue Sustainable Financing for Companies under COVID-19) Download Browse Figures Versions Notes Abstract The COVID-19 pandemic, which began in December 2019 and spread globally, has triggered numerous studies examining its profound effects on societies and economies. This paper investigates the impact of the pandemic crisis on people’s environmental awareness and sustainable consumption in the Italian market and tests several hypotheses related to this impact on the performance of green start-ups. Hypothesis 1 suggests that COVID-19 has increased environmental awareness, positively influencing green consumption behavior. Hypothesis 1bis focuses on businesses selling green products, proposing that they benefited from COVID-19. Hypothesis 2 posits that COVID-19 had a positive impact on online sales, while Hypothesis 3 suggests it damaged businesses based on a product-oriented PSS (Product-Service Systems). The study centers around a mixed method: a and an in-depth interview (qualitative research) with one of VAIA’s founders-a green Italian start-up taken as a case study for this research and quantitative research on the Italian consumers, carried out through an internet-based questionnaire with 706 participants Findings reveal significant shifts in environmental awareness and sustainable consumption patterns due to the pandemic: participants reported heightened awareness of environmental issues and an increased inclination toward sustainable consumption, influenced by reflections on human health-environment interdependence, lockdown-induced lifestyle changes, and a collective sense of responsibility. The study demonstrates as well that a green start-up can experience positive outcomes during the pandemic: this elicits insights that can inform businesses, policymakers, and practitioners in the sustainability sector, enabling them to adapt and capitalize on emerging consumer preferences.