> c) In an increasing number of jurisdictions, the law falls on the side of the buyer. For example in the EU, your "exchange only" policy would be an absolute non-starter (with very few exceptions, e.g. food items, healthcare items etc).
With the exception of online purchases, that's only true for the return of non-faulty items. In Ireland, for example, you have no right to change your mind after the purchase and return the item just because you didn't like it (except for online purchases, which must allow 14 days for return).
Now, many shops will still allow you to return items within a certain time frame for your money back, but they would be well within their rights to operate an exchange-only or store-credit policy (and some do!).
However, if the item is faulty or not fit for purpose then the seller must offer you a replacement, repair, refund, or reduction in price. Whether or not you are entitled to choose which of these you get is dependent on how long since you bought the item, and whether or not the suggested repairs/replacement are reasonable.
With the exception of online purchases, that's only true for the return of non-faulty items. In Ireland, for example, you have no right to change your mind after the purchase and return the item just because you didn't like it (except for online purchases, which must allow 14 days for return).
Now, many shops will still allow you to return items within a certain time frame for your money back, but they would be well within their rights to operate an exchange-only or store-credit policy (and some do!).
However, if the item is faulty or not fit for purpose then the seller must offer you a replacement, repair, refund, or reduction in price. Whether or not you are entitled to choose which of these you get is dependent on how long since you bought the item, and whether or not the suggested repairs/replacement are reasonable.