In the local Town of Muro de Alcoy there are many supermarkets for both food and luxury. The main supermercado is Mercadona, which supplies food, toiletries and cleaning products at very reasonable rates. Vidal also has a good food selection but also provide more luxury items such as toys and clothing.
Carrefour (the French Hypermarket) is located in Cocentaina. It is very popular with British shoppers and even has an International food isle for those essentials that the Spanish shops may not do.
There are many bars and restaurants locally, and all are of good quality and value. In Cocentaina there is The Wok, an authentic Asian all you can eat restaurant for very reasonable prices. There is also an Indian Restaurant called Ghanish which boasts fabulous freshly cooked cuisine. For the more traditionally Spanish, why not try L'Alcudia, in the Small village of L'Alcudia. Slightly more pricey but the food and atmosphere more than make up for the cost.