Here are some of the stores in town that I would highly recommend:

Rewind Vintage - 2829 Johnson Street NE Mpls • 4806 Chicago Ave S Mpls.
This store is definitely a place to frequently visit (sometimes you come away with nothing, other times you hit the jackpot) but I have found some seriously killer accessories here, including a brightly multi-colored woven belt, a couple vintage silk scarves and some awesome cowboy boots that I wear almost everyday in the fall. All for less than $75. Total.
Opitz Outlet Center - 4320 Excelsior Blvd St. Louis Park
Wanting some serious designers in you closet? Then this is the place for you. up to 90% off some of their items, and let's just say gettting a Marc Jacobs bag for $150 is not out of the question. The other day, a friend of mine scored some super cute Cole Haan woven pumps for $30. That's Payless prices, people.
Downside: You may have to bump thorough a crowd to get to that Alice and Olivia dress you saw on Selena Gomez.
This well-known discount store has multiple locations, but the one at Knollwood Mall blows the rest out of the water. Looking for Gucci? Marc by Marc Jacobs? Rebecca Taylor? T by Alexander Wang? You can find it all, just don't expect as much of a price cut as Opitz.
(Update! My Reed Krakoff Gym II bag was actually found at theoutnet.com- an awesome website for designer goods at a fraction of the price!)