edd-downloads-name.php

<?php
//* Do NOT include the opening php tag


//* Change default global labels of Download and Downloads to Product and Products
add_filter('edd_default_downloads_name', 'b3m_edd_product_labels');
function b3m_edd_product_labels( $labels ) {
	$labels = array(
 			'singular' 	=> __('Product', 'b3m'),
 			'plural' 	=> __('Products', 'b3m')
	);
			
	return $labels;
}

edd-labels.php

<?php
//* Do NOT include the opening php tag


//* Change labels from downloads to products
add_filter('edd_download_labels', 'b3m_set_download_labels');
function b3m_set_download_labels($labels) {
	$labels = array(
		'name' 					=> _x('Products', 'post type general name', 'b3m'),
		'singular_name' 		=> _x('Product', 'post type singular name', 'b3m'),
		'add_new' 				=> __('Add New', 'b3m'),
		'add_new_item' 			=> __('Add New Product', 'b3m'),
		'edit_item' 			=> __('Edit Product', 'b3m'),
		'new_item' 				=> __('New Product', 'b3m'),
		'all_items' 			=> __('All Products', 'b3m'),
		'view_item' 			=> __('View Product', 'b3m'),
		'search_items' 			=> __('Search Products', 'b3m'),
		'not_found' 			=> __('No Products found', 'b3m'),
		'not_found_in_trash' 	=> __('No Products found in Trash', 'b3m'), 
		'parent_item_colon' 	=> '',
		'menu_name' 			=> __('Products', 'b3m')
	);
		
	return $labels;
		
}

edd-slug.php

<?php
//* Do NOT include the opening php tag


//* Change slug from downloads to products
define('EDD_SLUG', 'products');