The half dozen or so gift shops along Kelsey Blvd are all similar to one another and basically for the tourist have the normal "made in china" Chuchill transfer T shirts etc.
Clearly being so far North and with a limited amount of tourists, it is understandable that the ranges of items are not that great
There is a "trading post" at the far end of town that has some cute touristy type things. It's really one of the only gift shops and worth a trip. This is also one of the places you can book helicopter rides and they have a public bath room.
What to buy: There are a few funny t-shirts, etc. I ended up buying a polar bear hat and mitten set before we set off for the tundra. They were a hit and really made our pictures (I fit right in!). They were a bit on the expensive side, but I'd buy them again. Oh, and they make great puppets if there's a lull between bears and you're getting bored.
What to pay: Higher than average prices, but it is hard to get stuff all the way up there!