My favorite store in Jerome is the kaleidoscope shop. This is the biggest shop in the US(maybe even the world) and it is not a place you want to miss. The staff is really friendly and they are more than happy to show you around. Ask which kaleidoscope they favor and they will show you something that you may have missed on your own. Get your camera out for photos through the lenses, and ask for a picture of yourself before you go -this makes for a really unique souvenir.
For more information check out the official website: http://nellieblyscopes.com/
Before I went into this store I had no idea how widely a kaleidoscope could vary, they come in every shape and size and depending on the type the intricacy will vary as well. If you plan ahead the shop also offers classes on how to make these amazing kaleidoscopes and I imagine that would be a skill not many people can say they have.
When you approach your favorite, try out different lighting, point it at objects of different color and texture and see how the whole experience changes. We even tried pointing them at each other for a unique photo. (Doing so was recommended by the staff and they will help you get just the right picture. a really cool souvenir – and it was free of charge!) This is a place that you can fall down the rabbit hole and get lost in pretty easily.
After you have been through the shops in Jerome (which does not take too long) I recommend staying for lunch. Find a nice place for a picnic and enjoy the atmosphere. If a picnic is not for you, find a place with a balcony and a view and have a nice lunch while you take a look at the scenery. Maybe bring along one of the cheaper kaleidoscopes you can buy and see what the landscape looks like.