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Tel Aviv has great shopping. Both in malls and street markets. Many of the malls are higher-end retail clothing stores that can charge an arm and a leg, but remember, this the Middle East where bargaining in street markets is a tradition - but not in supermarkets and chain stores etc. The favorable exchange rate will put more money in your pocket, and remember to ask for VAT (value added tax) refunds available for tourists on larger purchases. Several markets selling everything from fake Calvin Kleins to vine-ripened tomatoes - ask your hotel concierge or friends for the one nearest you. This is a great way to get some nice accessories for a low cost. These generally will not charge too much, and they are certainly going to give you better prices than bigger stores. Usually you can bargain down and agree to a price with the proprietor.
There are fabulous designer clothes on North Dizengoff and Ben Yehuda Streets; jewelry in small silver shops all over, antiques wherever you look, plus the usual round of t-shirts and typical souveniers. Gordon Street is famed for its art galleries.