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This is not true. I tried to "exchange" a toddler's table set that was $55. A Christmas gift we bought personally. It was sold defective. One of the legs' screws were broke and wouldn't join with the table. I tried to exchange it for an identical set and they told me that since the purchase is over $50 they could not follow through with the exchange or do anything without the receipt!! Such bs because they sold a faulty product AND we purchased a 2 year warranty plan with the table set for 4 extra bucks so totalled to $61 with tax and everything. they don't keep track of ANYTHING! They sell you bs and don't even keep tabs on it in their system so it's pretty much for nothing! I even called the original walmart I purchased it from and they confirmed the stupid policy. Walmart sucks. And this post is inaccurate.