Shopping hours are Monday to Friday 9 am - 6 pm and Saturday from 10 am to between 2 and 5 pm (depending on the shop). The Kringlan shopping center is open Monday through Thursday 10 am - 6:30 pm, Friday 10 am - 7 pm, Saturday 10 am - 4 pm and Sunday 1 pm - 5 pm. Some shops stay closed on Saturdays during the summer although many supermarkets remain open until 11 pm, seven days a week.
Laugavegur is the shopping street in the downtown area. A selection of boutiques, designer labels, arts and crafts galleries and jewellery design studios can be found here. Over the past few years, Skólavödustígur (the street leading from Laugavegur to the Hallgrímskirkj church) has been transformed into one of the most chic shopping streets in the city. Several shops can be found selling outdoor wear and equipment, such as Skátabúdin at Snorrabraut 60.
The Kringlan shopping mall in the part of the downtown area know as the ‘new city center’, is a hub of social activity. Among over 150 shops is Íslandia, a one-stop outlet for Icelandic souvenirs. Fur clothes are a particular Icelandic speciality and these can be found at the upmarket Eggert at Skólavördustígur 38. The famous lopapeysa (Icelandic jumper) can be bought in many of the tourist shops or from The Handknitting Association of Iceland at Skólavördustígur 19.
The flea market located at Laugardalur 24 is open Saturday 10 am - 5 pm and Sunday 11 am - 5 pm. Here, budget shoppers can find all kinds of typical flea market paraphernalia at low prices.
VAT for most goods in Iceland is 24.5% (books are taxed at 14%). A VAT refund will allow you to recover 15% of the retail price of goods. To qualify, a minimum purchase of IKr 4,000 (including VAT) must be made in a store displaying a Global Refund Tax sign and a refund cheque obtained at point of purchase. The refund can be claimed back on departure. For refunds of over IKr 5,000, the goods will have to be shown.
