I'm a regular at my local store and exchanging is never a problem, even months after the purchase, I can go in without a receipt (who bothers to keep them) and they allow me to do an exchange. I think it's more a courtesy for me since I'm a regular, not necessary a store policy. But the SAs are always very nice about it - more reason to love my store and shop there even more! I've exchanged scarves, a wallet, a bag, perfumes, shoes...sounds like I'm a bad customer but spread those exchanges over years and it's not THAT bad (I hope).