I feel some people are misunderstanding Naama Bay, the locals don't mean any harm and at the end of the day this is their living.
There is a lot of hassle, especially when you get out of a taxi but most leave you alone if you're friendly with them and just say no! We found it fun to have a laugh with the locals and there was a nice lively atmosphere. Again I can understand why people with young children would feel on edge, also if there was just a group of girls as the men can come across very strongly. However as a couple we found it fine, and most were very friendly and up for a good laugh!
Much cheaper than the shops in Soho Square with every fake item you can dream of!! Just be prepared to haggle, and don't feel bad because they start off with higher prices and are willing to sell it for half of this price normally!
Overall we had fun haggling with the shopkeepers and having a look round the various malls and little bazaars. Just remember they mean no harm at all and if you're friendly with them they will be friendly back!! Don't let negative reviews put you off, decide for yourself when you're there :)