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Here in the Canary Islands, we are part of Spain and part of the EU but we are outside of the EU in terms of customs allowance and in turn we are duty free.
On top of that, in the Canary Islands, our equivalent of VAT is much lower and is just 7% compared to 21% on the mainland. All in all, this means that a lot of things are much cheaper here than they are anywhere else; tobacco, alcohol and perfume.
There are lots of shops within the resorts where you can buy all of your duty free goods to take home but people overlook the Duty Free shop at Lanzarote Airport. Quite often they have an offer running online where you can shop before you fly and collect and pay at the airport. Discounts can be up to 40% and do make a real difference in the price so why not take a look.