Dubai Shopping Festival is the best time for deals and discount offers.
Outlet Mall is a factory outlet mall with many international and local brands having their factory outlet stores, with discounts going upto 70 %. The best day to go is a Monday, as they is additional offers on Monday.
Factory outlets for brands such as Giordano, Adidas & other brands are available in the city (Search for Factory outlets in the shopping section of Travex
Best deals on branded luggage bags are available at Carrefour Supermarkets
GITEX is the best time for electronic shopping
Avoid buying souvenirs from malls. The best place to buy souvenirs would be at market places such as Al Karama, Diera, and also a few warehouses in Al Quoz.
Top souvenir must buys would be gold, Arabic perfume, Dates, Spices and Dry fruits, Camel Milk Chocolate, Shisha, Arabic antiques and probably a local designer dress.