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To determine which eCommerce solution you are on, see How do I know if I am using Native eCommerce or Third Party eCommerce?
The Product variations feature allows you to set a separate image/price/SKU/quantity/low stock notification for each set of product options. When this set of options is selected, the store will always use the values (for example, an image) assigned to the variation instead of the default ones. Product options allows you to set multiple options to a product such as size and color. For more information, see Product Options.
Note
This feature is only available with the Advanced Store or higher.
Product variations can be used in many different ways. For example:
To configure product variations:
FAQs
Can I set the same SKUs for a product and its variations?
The store allows you to set the same SKUs for a product and its variations unless the variation's stock differs from the base product's stock. In other words, if you set a different in-stock quantity for a variation, you'll have to set a different SKU for it. We based this logic on a reasonable presumption that if a variation has its own inventory, it is treated as a separate unique item, so it apparently should have a unique SKU.
Will the additional SKUs be included in the product number limit for my account?
Product limits do not include SKUs from product variations: you can have more SKUs than your plan limit totally when using combinations, only the number of base products is limited.