Did it once on my trip on late Sept. and shops were definitely open and it became my favorite time to shop because there were no one around shopping at the World Showcase. Didn't check if the restaurants were open but I'm almost certain my sister in law got something at the Boulangerie.... I know for example where they sell beer in Germany (not the cart) was open, although at that time they had run out of one of the beers and not restocking.
All in all, shops are open, some areas for food certainly are, but if you want a specific restaurant, look for it on the Disney site and check the hours on that specific day. It will tell you when it opens and closes. Have a fun trip!