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The part of shopping in Spain that may be hard to understand is that ALL stores, other than music and book stores (El Corte Inglés and FNAC have media locations that are open between Puerta del Sol and Gran Vía), are closed holidays (Spain has LOTS of holidays) and every Sunday of the month. Exceptions to this rule is the first Sunday of the month, Sundays in December and until Tres Magos (Three Kings Day) on January 5th or when Monday is a holiday. Be prepared, or head to...
The Rastro is held every Sunday from 10AM to 2PM (no, they don't stay open late for you) and on many holidays, when every other store is closed. The Rastro was originally for the antiques dealers, so you will find these stores located on and around c/Ribera de Curtidores as well as a very strange mall (formerly the city fish market); the Puerta de Toledo shopping center (Métro: Puerta de Toledo).
The alternative designers are now located on c/ Fuencarral from Gran Vía and headed north (against the one-way traffic) as well as Malasaña and Chueca.
Tourist items are easiest (and most expensive) find in the shops surrounding Plaza Mayor.
If you're really low on funds, you can always resort to the "Chinos" (yes, it's
derogatorily named for the owners and the origins of everything inside).
These stores offer everything from cheap lipstick, cooking pans and oven cleaner
to yes, trashy souvenirs. The Rastro offers a better assortment of items
at slightly higher prices.
Groceries for tourists can be an interesting adventure as well. Every
neighborhood has a chain store like Champion or Dia that offers a little bit of
everything. There are also "mercados" - an indoor farmers market with all
kinds of meat, vegetable and cheese purveyors. Hold your nose and dip in
to see La Cebada in Plaza de la Cebada - directly above Métro: La Latina
station, Plaza San Miguel (on the west side of Plaza Mayor), Antón Martín in c/Santa Isabel (Métro: Antón Martín); behind the Gran Vía in Plaza de Mostenses (Métro: Plaza de España); on c/Gravina in Chueca (Métro: Chueca).
Opening
hours explained

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