If you want to add a new product based on an existing one on your admin panel, you need to follow these steps:
Go to Products > Select a product > Duplicate
Then choose whether you want to copy the product with or without images and press Duplicate
You should see the following information:
Duplicated products will have SKUs as follows:
The first three letters of the product name and the parameters separated by “-“. If the SKU data already exists, the system will automatically add a number at the end.
For example, Sweatshirt, size XS, colour black, will have SKU swe-xs-black