A template is a collection of attributes. A template is named after the internal entity type that you want to associate it with, with a specific type following in parentheses. For example, a template with a slug of products(clothing) can be applied specifically to clothing products in the store. This slug is included in all the responses that contain products. You can create product templates for both organization and store; however, a store can use organization templates and fields.
You can create templates for your products at both the organization and store level.