Sustainable Business Models—Crisis and Rebound Based on Hungarian Research Experience

Abstract

Sustainable business models can help us move beyond the current consumer society and integrate sustainability into our lifestyles. The COVID-19 crisis was a strong test of sustainability for these models. In our study, we assessed which business models are highly dependent on the economic cycle and are highly embedded in consumer society. We conducted our research at the height of the second wave of the pandemic and asked university students about changes in their consumption patterns and their expectations for the future. We carried out cluster analysis on our sample of 622 respondents. We were interested in the extent to which participation in certain business models could be associated with the rebound effect that could be predicted after the epidemic. The stronger this effect, the more embedded a sustainable business model is in consumer society and the less able it is to reduce its environmental impacts in the long term. We found that resource efficiency, the sharing economy, and digitalization fall into this category. Participation in sufficiency and stewardship-based business models predicted much less rebound impact. These models showed more clearly the sustainability characteristics of sustainable business models.