Concept
The shopping bag to represent shopping is very obvious and forgettable. Look at logos like amazon for an example of a great concept that keeps things memorable, simple and unique. I would work more on the concept for sure.

Example:

Execution
This seems more like an illustration than a logo. You will want something more iconic and easily rendered as a favicon or single color print on a shipping box. You have way too many tiny details and shadings to work in any situation other than large full color like your example. Try looking at it scaled down to a postage stamp or printed on a pen. An example of an iconic shopping bag logo (and a bit better concept) is shopping.com

Example:

*Edit*
Looking again, is that clipart or stock imagery? That should be avoided at all costs. Have you considered hiring a logo designer? That will get you a lot farther in my opinion, and there are a lot of great & inexpensive freelancers to choose from.

I agree with most everything that Luma Vine said.

The shopping bag may be an obvious concept, but it certainly has possibilities if you can find a more creative and practical way to use it in the logo. The way you're doing it lacks impact and wouldn't reproduce well, especially in one-color jobs or when the logo needs to be small. I'd suggest trying some concepts using just a single bag, or if you want to have multiple bags maybe just have one in the foreground with the type on it and others just peaking out from behind.

Also related:
http://hicksdesign.co.uk/journal/recent-work-shopify

My immediate thought with those colours was that this is something to do with ebay.

Thanks for your constructive thinking & comments, all very useful! After reviewing I decided to go back to the drawing board and my latest draft looks like this:

Would love to hear any suggestions & tweaks!

Great improvement! The grey is looking a bit too light to stand out enough to me, especially when it has the same darkness as the colors. I think that square around the symbol is not adding anything. The stroke on the text will make it hard to read at small sizes. I would go with solid letters. There is also a bit of trouble with 'the' capitalization - the logic of capitalizing each word makes it seem like Allthe Deals. Great update!

oops, double post.

Thanks Luma! The grey is indeed a bit light, (it's what my wife keeps saying as well hmm) however it will be placed on a blue banner, see below:

I've used some of your suggestions, it would look like this:

I agree with your comment on the box, without looks better however now the pricetages seem to be floating around a bit.

One more with the blue background:

One more with the blue background and white font:

Damn it's hard to make a choice!

while you're at, have you taken a look at removing the stroke off the tags? or at least on the three long sides of the tag and leaving the tip as is with the hole? might read easier. they feel a little heavy and came across as colored pencils. looks loads better though. great job!

I made one with the strokes a lot smaller and one without (somehow Photoshop didnt want to fill stoke propely on the rings.

I'm leaning towards the one with the smaller strokes.

> while you're at, have you taken a look at removing the stroke off the tags?

Now make All and Deals heavier and The - lighter. Push it to the right, away from the mark. Then consider different colors for the tags. What you have at the moment looks wildly random and "loud", overwhelming everything else in the logo (including the actual concept in the mark itself).

Ok here is the one with the a full Bold and one with a variation in size

For the colors I actualy did a lot of variations, actually using the colorwheel etc for complementary colors, although these are webcolors which slightly differ.

Any suggestions? I would think they do need to stand out a bit as these do.

I meant substantially bigger weight difference. Like so:

Also I would strongly consider dropping the italics. It makes the logo look dated.

Your background color is the biggest issue right now. Branding is more than just a logo, and the background color should be part of the larger picture of branding.

What is the concept behind making an X out of tags? Could you find other ways to get at the same ideas? The tags are ok but a bit expected. In the shopping.com example they have combined a smiling face with a checked box and a shopping bag. Those three elements tell a story of a successful online shopping experience, and therefore make for a pretty good logo. What story are you telling?