I dont think its famous for shopping. Its famous for getting nick nacks and souveniers. There are a few places still selling fake purses. I took a girl and her friends there last week. The 2 or 3 places is on south side of canal between centre and mulberry. usually there will be a guy or woman constantly repeating "gucci, louis vuitton, ...etc". Then they'll take u up stairs to some apartment or room. I think you are better off enjoying the food. My suggestions are Nha Trang on Centre for vietnamese (def not the best in the world but the best in the city, LA and Houston so much better), Mr. Tangs on mott for dinner (order from the special chinese menu. The prefix dinners are great...for 2 or 4 or 6), noodletown on bowery for chinese bbq, or Ping's on mott for dim sum. Well, there's my opinion. Done my good deed for the day. Good luck.