If you are looking for great gifts or souvenirs for friends and relatives, don’t hesitate. Market 28 is the place to visit. Besides the countless handicrafts stores you'll find typical Mexican food (from delicious and fresh seafood to traditional tacos), jewelries, clothing stores, supermarket, Internet cafe, postal office, and so many sorts of businesses that it would be too long to list them here. It is also interesting to discover the real life of Cancun inhabitants on your way to the market.
The Market 28 is located in downtown Cancun. If you are staying in one of the hotels in the hotel zone, simply take a bus or a taxi and ask for Mercado 28. There are many buses in the hotel zone bearing "Market 28" or "Mercado 28" on the windshield. These will drop you off one block from the market.
At Mercado 28 you will find many ATM´s and banks. Most of the shops will take US Dollars, but very few will take credit cards. If you can't find something just ask, the market has more than 100 stores and shops.
Update April 9, 2010: This market has been converted into a tourist only attraction as all shops are displaying only products for tourists. The restaurants are sill very popular among people living in Cancun and offer a wide variety of traditional dishes. Based on own experience we only recommend a visit of the restaurant "El Ceja" which offers Caribbean Seafood specialities.