January and June (usually) are major sales periods with sales up to 70%.
In the very center of the city you have all sorts of mid-range stores (Stradivarius, Mango, Zara, Desigual, Jack&Jones, Pull and Bear, etc) and all sorts of low-cost stores as well (H&M, Primark, Lefties, etc). Most of these stores are on three main streets: Calle Preciados (steps from Plaza del Sol), Gran Vía (Madrid´s main artery), and Fuencarral (starts at Gran Vía and it’s not that long so it’s fully walkable).
If you’re looking for more of a Shopping Mall experience, you can head to the Principe Pío mall,
still in the center but a little farther away (15 min walk from Palacio Real).
Las Rozas is an outlet village on outskirts of Madrid. They have a dedicated bus to ferry shoppers. Personally, it is not worth the effort as there are more than enough shops in the central areas of Madrid offering similar discounts.
The sprawling El Rastro market is a great place to go bargain hunting. It is an experience in itself even if you aren’t looking to buy. The weekly event goes ahead every Sunday and on public holidays and sees the Plaza de Cascorro covered in hundreds of stalls. It’s best to arrive early to grab the bargains, and the market starts to close down at 3pm.
Outside of El Rastro market, shops in Madrid tend to stay open late, often until 10pm, though you may find smaller stores shut for several hours (often between 2pm and 5pm) during the day.
Here are some of the best outlet shops in Madrid
1. Las Rozas Village, Las Rozas
Much hyped but I am yet to get a good bargain. The ambiance is good. It is designed to be like a little village with shops, restaurants, and cafes. They stock a wide variety of well-known International brands as well as popular Spanish brands.
To reach Las Rozas Village, you can use the private bus service of Las Rozas Village Outlet. If you want to go by metro, alight at Moncloa station (Metro line #3) and take bus no. 625, 628 or 629 to Las Rozas Village.
Factory Las Rozas – Close to the more famous Las Rozas village. Factory houses 35 brands
San sebastián de los Reyes – It is 15 Kms away from city centre but well connected by metro - Route 10, alight at Hospital Infanta Sofía station. I thought the range was good but there were no enticing discount and offers.
Centro De Oportunidades – This is the outlet store of Corte Inglés. You get good discounts on old unsold products and designs that are at least three seasons old.
Lefties – started life as Zara’s outlet store but now vend their own low-cost collection.
Mango outlet – Get last season fashion at 50% discount. ( Calle de Bravo Murillo, 114, 28020 Madrid, Spain)
Desigual Outlet – They have an outlet store at Cavanilles (Calle de Cavanilles, 35, 28007 Madrid)
Salvador Bachiller – Popular for leather goods such as gloves, wallets, and bags. They have their outlet store in Chueca. Worth a visit.
I have observed that stores at Principe Pio mall and La Vaguada malls are generous in offering discounts and run perennial sales.
Calle Augusto Figueroa is full of outlet shops selling high quality shoes at reasonable prices.Not just shoes, you can also buy leather bags and suede belts at a bargain.
For inexpensive and yet comfortable shoes, go to Casa Hernanz (Calle de Toledo, 18). You may have to wait in line to enter the shop. They are that famous for their Espadrilles.