Some businesses openly advertise their sympathies, undeterred by the possible loss of revenues. Apps and websites advise users on which way shops and restaurants sway.
At her bakery in Sai Wan district, Naomi Suen sells cookies and mooncakes decorated with protest slogans.
“I don’t know the exact definition of the yellow economy. I am just doing what I can to support Hong Kong people,” Suen told AFP.
In Hung Hom, site of some of the most violent clashes of the movement in November when students barricaded themselves inside a university, diners queuing outside Lung Mun Cafe expressed a similar sentiment.
“We want to support this restaurant because it supports the whole movement… supports democracy,” said a 26-year-old man named Justin.
Eateries, shops and other properties branded “blue”, meanwhile, have been attacked by black-clad vandals wielding petrol bombs. Many Chinese bank branches are boarded up or protected by metal shutters after their windows were smashed.
Dozens of restaurants belonging to local catering giant Maxim’s were ransacked after the daughter of the group’s founder labeled protesters “rioters” and said she had given up on Hong Kong’s young.
Starbucks, which in Hong Kong is operated by Maxim’s, has seen its shops trashed.
With retail sales down and tourist numbers plunging, the economy appears headed for its first annual contraction since 2009.