There is more than enough shopping in the area to fill a day. The shops are just too numerous to list here. Generally, shopping in the historic district is centered on Caroline Street. There are a number of stores specializing in antiques and collectibles, as well as some boutiques. Other streets in the old town also hold a scattering of shops.
If modern stores are what you're looking for, modern Fredericksburg has the typical assortment. On a larger scale, a 45 minute drive north on I-95 will get you to Potomac Mills, one of the East Coast's largest outlet malls and sometimes labeled the largest tourist attraction in Virginia.