In Ulaanbaatar, there are many duty free shops and restaurants where convertible currencies are accepted. In all other shops, local currency must be used. The best buys include paintings and tankas, cashmere garments, camel wool blankets, national costumes, boots, jewellery, carpets, books and handicrafts and small souvenirs, pups and vodka. The notorious “Black market” on the outskirts of UB is a large, crowded flea market, which sells a huge variety of items. Most shops accept international credit cards such as VISA, Master Card, American Express and JCB.

There are a number of souvenir shops that sell Mongolian made goods like hand woven carpets, leather and woolen clothing, furs, cashmere, camel hair products, Mongolian oil and water paintings, and wooden toys, puzzles and games.
The most popular items are paintings, antiques, handicrafts, carpets, books, cashmere, traditional Mongolian clothing, leather goods, wall hangings, puzzles, and postcards, snuff bottles and woodcarvings. The food markets are well stocked on Mongolia, Russian, East and West European products although they may be a little more expensive than you expect. Many of the shops throughout Mongolia are in fact small kiosks within larger shops.

You will find that many shops sell the same things so you'll have to look hard to find exactly what you want. Along the streets of Ulaanbaatar you will find many small kiosks that sell snacks and general provisions. The most adventurous traveler may wish to go out to the infamous “black market”, which is a giant flea market on the outskirts of Ulaanbaatar. Almost anything can be bought at this market, which is always very crowded.

There are many duty free shops where convertible currencies are acceptable. Wide range of goods may be bought for foreign currency at favorable prices; typical Mongolia souvenirs, wines, furs, garments in cashmere, camel wool blankets, national costumes, boots, jewelry, carpets, books, records, horns, etc. In all other local shops local currency must be used. 

State Department Store
The State Department Store, located on Peace Avenue is Mongolia's largest store. It contains a varied selection of goods including many tourist items, which are located on the 4th floor. This floor also has cashmere goods, leather and fur coats and hats, machine and hand woven rugs, silver and copper items, watercolor and oil paintings, Mongolian vodka, jewelry, and illustrated books. There are several stores in Ulan Bator offering western and American goods. Some of the more popular stores include Sapporo and Centerpoint (small size supermarket), Naran Shop, Prestige and Magda Center (carries cleaning and cosmetic goods manufactured by Procter & Gamble). Business hours are generally 9 a.m. to 6 p.m. with lunchtime closing of an hour, usually 1-2 p.m.

“Sky” Department Store
One of the biggest shopping centers in Ulaanbaatar. It is located near “Chinggis” hotel and very comfortable and service dear customers hospitality.

In UB, there are so many shopping centers. For example: UB Mart, Narnii titem, Sarnii titem, Gurvan gal, HID-1, Nomin, Bayangol etc…

Supermarkets
 You will soon get to know the main supermarkets in Ulan Bator if you are either staying in an apartment with a kitchen, stocking up for a trip to the countryside, or happen to be a vegetarian. These days there are very few things you can't get in the city if you look hard enough, though you may have to visit several markets to track them down. Most markets are open from about 10am to 8pm daily, and are worth a visit, if only for the atmosphere, fresh bread and tasty ice cream. 
The largest supermarkets in the City is Nomin, Minii Zakh (Dalai eej), and Mercury supermarkets. Nomin supermarket is located in the III micro district and ground floor of State Departmet Store. The market offers a variety of fresh and reliable products. Mercury is sort of a flea market for food  where you can bargain with individual vendors for all manner of imported goods, meat, cheese and vegetables, as well as luxuries like caviar and crab sticks, it is located behind the state circus. Dalai eej (Lake Mother) is run-of-the-mill supermarket and also has household and toiletries goods.

Souvenir Shops
Tourist shops are easy to find in the summer months, and one should make an effort to look beyond the pricey gifts shops at the main hotels. Note that some are not named, and are only known as 'art shop' or 'souvenir shop'. The following are worth shopping for:  Traditional embroidered boots with upturned toes, deels tied with silk scarves, fox fur hats and stylish Mongol jackets are mostly homemade but can be found in some shops.



Art & Antique Shops
Ulaanbaatar shops near downtown offer many antiques and artworks. Mongol-style paintings, books on Mongolian art, and traditional musical instruments make excellent gifts. “Eternal Art” antique shop and also other antique shops offer a good range of old kettles, silver bowls, knives and Buddhist artwork. At the Ulan Bator Central Market, towards the back, is a section reserved for antiques and coin sellers (this is the best reason to visit the market). It is, however, illegal to take antiques out of the country unless purchased from an authorized shop (customs agents will ask for a receipt). There are many sticky fingers about so leave your valuables in the hotel.

Cashmere shop
There are several cashmere stores in Ulan Bator with products from the two largest cashmere producers in Mongolia, “Gobi”, “Cashmere House” and “Goyo” cashmere shops. Many other stores have small sections of cashmere clothing as well.