If you are looking for gifts, souvenirs or toys then there is an array of shops where you can find what you are looking for. Besides the Tabacs dotted around the resort where you can usually collect knick knacky souvenirs such as mugs and magnets, there are a few other 'touristy' places where you'll find souvenirs, toys and gifts. For younger shoppers and some great gifts for little ones back home there is a old fashioned toy shop with some very beautiful hand made wooden toys as well as games and gifts.
You should head up the Rue du Bourg towards the centre of town for more traditional shopping and there is a very nice little perfumerie.
If you have space in your luggage, or if you have bought a place in Morzine and are looking to furnish it, then there are a couple of interiors stores on the Route de la Plagne which will help you give your home an Alpine chalet feel. You'll also find some great homewares at the other end of the Route de la Plagne where more traditional Savoyard styled interior trappings await.