According to Cushman & Wakefield, the share of new retail property occupants in Hong Kong from Japanese, Korean, and Thai brands increased by 7 percentage points to over one-third in the first nine months of 2026, while demand for shop space from mainland brands declined during the same period. This brought the share of brands from these three overseas markets to 36% of new occupants, on par with mainland retailers. Cushman & Wakefield expects this trend to continue. This year, Japanese fashion brand Cullni opened a store in Wan Chai, second-hand goods retailer Ragtag leased space in Hysan Place in Causeway Bay, and Korean footwear brand Khiho entered the Hong Kong market with a store in K11 Musea in Tsim Sha Tsui.