exchange
eks-CHAYNJ
/ɪksˈtʃeɪndʒ/
The act of giving one thing and receiving another in return, especially a different size or color of the same product.
Implies the customer still wants the product but needs a different version of it.
The story behind the word. Rooted in the Latin 'cambire,' meaning to barter. It suggests a trade-off where one thing goes out and another comes in.
Word relationships
- swap: Swap is more informal and often used for casual trades between friends.
- keep: To retain the original item.
Commonly confused with
- refund: Exchange gives you a product; refund gives you money.
Word family
- exchangeable (adjective): able to be swapped
Collocations
- even exchange
- exchange policy
- make an exchange
Idioms & expressions
- fair exchange is no robbery
Example sentences
- "The sweater was too small, so I went back to the store to exchange it for a medium." Clothing retail scenario.
Memory hook
EX-change means the old item is your EX, and you have a new one. Swap for something better.
When not to use
Do not use if you are returning an item and taking nothing else in its place.
Fun facts
- The New York Stock Exchange (NYSE) uses this word because it is a place where stocks are traded or 'exchanged' for capital.
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