As of Friday 13th June the Consumer Rights Directive is implemented and will impact all EU and UK e-commerce websites and covers both physical and downloadable products.
'The regulations aim to strengthen consumer rights when shopping online. The directive also aims to align the laws of EU member states. One example of the change to the regulations is the right to cancel and the seller's duty to inform. If your shop doesn't comply with these new regulations after the 13th June, you will be liable for this and run a risk of facing legal action.'
Consumer Contracts White Paper
It may be worth taking a look, the white paper is free to download.