Zihuatanejo has its quota of T-shirt and souvenir shops, but it has also become a better place to buy crafts, folk art, and jewelry. Shops are generally open Monday through Saturday from 10am to 2pm and 4 to 8pm. Many better shops close Sunday, but some smaller souvenir stands stay open, and hours vary.
The artisans' market on Calle Cinco de Mayo is a good place to start shopping before moving on to specialty shops. It's open daily from 8am to 9pm. The municipal market on Avenida Benito Juárez sprawls over several blocks (about 5 blocks inland from the waterfront), but most vendors hawk the same things -- huaraches, hammocks, and baskets. On the sand next to the pier is a daily fish market, and just behind it on Paseo del Pescador there's a small seashell market. Spreading inland from the waterfront some 3 or 4 blocks are numerous small shops well worth exploring.
Besides the places listed below, check out Alberto's, Cuauhtémoc 12 and 15 (no phone), for jewelry. Also on Cuauhtémoc, 2 blocks down from the Nueva Zelanda Coffee Shop, is a small shop that looks like a market stand and sells beautiful tablecloths, napkins, and other linens; all are handmade in Aguascalientes.
Shopping in Ixtapa is not especially memorable, with T-shirts and Mexican crafts the usual wares. Several shops on Bulevar Ixtapa, across from the beachside hotels, sell designer sportswear and most are open daily from 9am to 2pm and 4 to 9pm.
Note: This information was accurate when it was published, but can change without notice. Please be sure to confirm all rates and details directly with the companies in question before planning your trip.