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Most shops open Monday to Saturday 9:30am to 2pm and 5pm to 8:30pm. Most shops open on the first Sunday of the month, but few open on other Sundays and holidays. Opening hours for department stores and chains are Monday to Saturday 10am to 9pm.

Some of the top Spanish and international designers are represented in shopping malls, where you will also find cinemas, restaurants and large supermarkets. The most convenient for tourists are (see Galería ABC Serrano) and (see El Jardín de Serrano).

There are a number of very useful chains in Madrid with extended opening hours. The most important is VIPS, which has branches all over the city. Most have cafeterias and sell a wide range of goods, including newspapers, drinks, batteries and other items (see VIPS).

Non-EU citizens can ask for a refund of Value-Added Tax (IVA) on purchases in excess of €90.15. This can save you from 10–13 per cent of the cost price. You must ask for a cashback form at the time of purchase.

Traditional Spanish fans are not only the property of flamenco dancers; they are still used by many women to ward off the heat in summer and are not expensive. Embroidered shawls and lace mantillas are sold in specialist outlets like Casa Jiménez. Leather goods aren’t necessarily cheaper than back home, but are of exceptional quality; try Loewe (see Loewe) or Excrupulus Net. The arcades of Plaza Mayor are a good starting point for ceramics and other souvenirs (see Plaza Mayor).

Spain’s number one gastronomic export is not wine, surprisingly, but jamón (ham). There are numerous varieties to choose from – carry out your own tasting survey in the city’s tapas bars before homing-in on your favourite. Wine shopping has become easier with the arrival of wine supermarkets, many of which have cut-price offers.

Look for high-quality antiques in the Salamanca district, especially on Calle de Jorge Juán, Calle de Claudio Coello and the mall on Calle de Lagasca (Centro de Anticuarios Lagasca). The galleries on Ribera de Curtidores (see Calle Ribera de Curtidores) are also worth checking out, as is Calle de Prado, near Sol. For the lower end of the market, head for the Rastro (see El Rastro).

The hunting ground for fashion victims is the Salamanca district which showcases Spanish and international designers. A good starting point is Calle de Serrano or Calle Ortega y Gasset. There are more haute couture stores in Chueca (Calle del Almirante and Calle del Conde de Xiquena). For mainstream clothes, the best areas are Calle de Fuencarral and the streets around Sol.

Clothing and shoe sizes differ from those of the UK and the US. Women’s size 12 (10 in the US), for example is size 40 in Spain. Men’s shirt collar size 15, is 38 in Spain. Shoe size 5 (7 in the US) is 38 in Europe, size 10 (11 in US) is 43. Most main stores have conversion charts and/or knowledgeable staff.

Stores sell off surplus stock at bargain prices during the sales. These take place twice a year – in late January and February and June to July. Also look out for seasonal reductions (rebajas de temporada ).