Coral bay has a small shopping complex on the way into town. There is a dive shop, and boutique, a bakery and and a supermarket in the complex. The supermarket is open daily from 7am to 7.30pm selling general groceries although you would be best advised to stock up in Exmouth, as the food here is very limited and over priced as well as locally caught fish.
There are some rather cheesy souvenir shops available as well if you are interested in buying T-Shirts or shells.
Coral Bay Photographics and Mermaid's Cave Boutique
Has single use cameras and laminating service.