Who knows, maybe one of your ancestors has visited Istanbul, probably the most prominent city for the visitors of the old world then, and shopped in the same shops you are visiting.
Even if you spare a whole day to visit the Grand Bazaar, where traditional meets modern as happens everywhere in Istanbul, its sheer size makes it almost impossible to see everything in one day.
While you can find traditional wares inspired from the Ottoman era in the Grand Bazaar, you would find many contemporary goods too.
The road stretching between the Grand Bazaar and the Nur-u Osmaniye Mosque is where you would find the sellers of finest carpets as well as other oriental goods.
There are also other shopping venues around the Sultanahmet area where handcrafted souvenirs as well as other diverse products.