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"Due to COVID-19 and social distancing requirements, shoppers were more purposeful in their in-person Black Friday shopping, causing significantly less crowds than we've seen in the past," said Brian Field, senior director of global retail consulting at Sensormatic. "This was compounded by retailers not offering as many in-store doorbusters and the increasing adoption of e-commerce."

"Driverless car technologies and ride-sharing services are advancing so quickly that in the future more and more people will choose convenient ride-sharing services instead of buying cars and paying for the maintenance. And it will eventually affect the whole market," Zeng added.

"Every country should uphold the 'polluter pays principle' (also known as PPP) and producer responsibility. China is upholding the PPP principle when it stops accepting other countries' waste," she said.

"Even though recession fears are widespread, we expect some recovery in 2020 as China's overcapacity problem is being addressed, supply chains are getting restructured, the risk of an escalation of trade disputes recedes, and productivity growth continues to recover," said Bart van Ark, chief economist of the research group.

"Digitalization is already a key driver and enabler of transformation for companies operating in the Chinese market, and we expect this to become another significant dimension of efforts to enhance connectivity within and among countries and regions related to the BRI," said Barber.