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Shopping in Copenhagen is excellent, provided of-course, that you have no grasp of the whole money concept, don't need to have it, or don't mind shelling out your hard earned cash for good quality products. If you can tick off any of those options, follow the crowds down Strøget, one of the largest pedestrian malls in the world which links City Hall, Kongens Nytorv, and Nørreport station. Impeccably dressed Copenhageners breeze through high-end fashion and design stores when not zig-zagging through the hordes of tourists during the summer and Christmas seasons. Your fellow visitors can make it all feel rather touristy at times but if nothing else, it is great for people watching. If all this strange outdoor shopping takes you too far from your usual habitat, head for Magasin du Nord (on Kongens Nytorv) or Illums (on Amagertorv) for more familiar surroundings. There is even a real American style mall complete with a gargantuan parking lot out on Amager. Appropriately, it is called Fields.
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If you would rather sample smaller and more personal stores, the quarter of narrow streets surrounding Strøget in the old city (colloquially known as Pisserenden and the The Latin Quarter), has a fantastic, eclectic mix of shopping. This ranges from quirky century-old businesses to the ultra hip, in a wide range of fields. It is also much less crowded than Strøget, though unfortunately no less expensive.
You can also try Vesterbrogade and Istedgade on Vesterbro, due west of the central station, although you'll need to go a few blocks before hotels/sex shops/Thai restaurants turn into more interesting territory. Right at the border of this area, Værnedamsvej and Tullinsgade are also good bets.
In Nørrebro, Ravnsborggade is well known for its huge number of antique stores that are excellent for bargain hunting and the next street to north, while more modest Elmegade has some awesome tiny independent fashion boutiques.
Laws are in place to limit opening hours for most shops, officially to the benefit of store clerks, although the "closing law" (Lukkeloven) is facing increasing unpopularity among locals. But until the opposition grows loud enough, most shops will close around M-F 5-6PM on weekdays, around 4PM on Saturdays, and rarely will anything be open on Sundays, including supermarkets! For out-of-hours shopping (apart from the ubiquitous 7-11 and small kiosks), the shops at Central Station (offering books and CDs, camping gear, photographic equipment, cosmetics, gifts) are open until 8PM daily. Large shopping centres and department stores are open on Sundays about once a month (usually the first Sunday, right after everyone gets paid) and more often during peak sale periods. The immigrant-owned grocery stores on Nørrebrogade on Nørrebro also tend to be open until very late in the evening.
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