For the footer itself, I would keep the button labeled simply:

COOKIE OPTIONS

Then the popup copy should be:

PRIVACY

Your privacy. Your choice.

We use essential technologies to keep the LUCKY website secure, remember necessary functions and make checkout work.

With your permission, we may also use optional technologies for preferences, analytics and marketing.

You can choose what you’re comfortable with and change your choices later by selecting Cookie Options in the footer.

Essential

Always On

Required for security, checkout and core website functions.

Preferences

Help remember choices that make your visits more convenient.

Analytics

Help us understand how visitors use the LUCKY website so we can improve the experience.

Marketing

Allow technologies used to measure or personalize marketing and advertising.

Do Not Sell or Share My Personal Information

Where applicable, use this option to request that personal information not be sold or shared for certain advertising purposes.

Then retain the three buttons we already built:

REJECT OPTIONAL ALLOW OPTIONAL SAVE CHOICES

And underneath:

READ OUR PRIVACY POLICY →

That popup should control the actual Shopify privacy-consent state rather than just looking like a preference panel.

One legal housekeeping item: the Terms draft is strong enough to build the site with, but before opening checkout we should do one final pass using your actual legal entity, fulfillment operation, permitted shipping states, return/refund rules and contact information. I intentionally did not invent any of those.