The physical store receipt states that it is not returnable or exchangeable.

Conclusion: Yes. Analysis: The "once purchased, no returns" slogans posted by online shopping merchants are invalid. In this case, we can protect our rights through legal channels, such as "once purchased, no returns, no exchanges" and other format clauses. Generally it should be invalid, because the Consumer Rights Protection Law clearly stipulates that consumers have the right to return goods without reason within 7 days. The above clause violates the mandatory provisions of the law. Legal basis: Article 24 of the "Consumer Rights and Interests Protection Law of the People's Republic of China" If the goods or services provided by operators do not meet quality requirements, consumers may return the goods in accordance with national regulations or the agreement of the parties, or require the operator to Fulfill obligations such as replacement and repair. In the absence of national regulations and agreement between the parties, consumers may return goods within seven days from the date of receipt; if the statutory conditions for contract termination are met after seven days, consumers may return goods in a timely manner; if the statutory conditions for contract termination are not met, consumers may require the operator to perform Obligations such as replacement and repair. If returns, replacements or repairs are carried out in accordance with the provisions of the preceding paragraph, the operator shall bear the necessary expenses such as transportation.