Although rumours still abound of queues lining the streets for non-existent bread, and empty shelves in the shops, the truth is rather different, and Moscow these days is as good a place as any to pick up some bargains, as well as plenty of great souvenirs of your holiday.
The massive GUM store dates back to the early communist era, and is the flagship department store in the city. It's located on Red Square just across from the Kremlin, and is a good place to browse for a while, and although not the cheapest place to buy things, it remains one of the best.
Upscale Muscovites looking for the latest fashion items will head for the boutiques that line Novy Arbat, and Arbat Ulista to the west of Red Square.
Typical souvenirs from Russia are the famous Matryoshka Dolls (the ones that fit inside each other), and also the Faberge eggs and jewellery. You cannot take antiques and works of art out of the country without a special license, unless you buy them from specific stores.