Bay Street is a great shopping strip. From take away, to resturants and clothing. A bonus that it's walking distance to the beach.
Part of the reason I am so attracted to the area is the shopping!! We have a couple of gourmet supermarkets... Thomas Dux and Brewsters, great basics in a comprehensive newsagent and chemist and array of fashion stores, children's stores and homewares stores. I agree some of the clothing options are expensive but there is the choice of Jagger's Closet, Gloss and Witchery and Brown Sugar who all do clothing at a more affordable level. Service along the street is amazing. Favourite stores... Little Polka Dots, Kikki K, Private Lives, POD and Jagger's Closet. My only criticism is the closing of Readings leaving a huge gap in the market and street. You can round off your shopping at one of the many coffee stores... My personal favourite Eurodor!
Bay Street, Port Melbourne? It's great, although super expensive for clothes. Food and restaurant, take away options are great, but I'd steer clear of the clothing unless you want to pay upwards of $200 for a simple female jumper.