When setting up Products, you have the option to copy an existing product. This can be very helpful if you are creating multiple similar products. This way, you won't have to recreate the same thing over and over again, you'll just make a copy and tweak the bits of information/pricing that is different between the two.
To copy a product, first navigate to the product you'd like to copy in your E-Commerce control panel under sell online and products.
Click on the grey copy button to the right of the name of the product.
After you click on copy, the new product will have the same name as the original with "(copy)" at the end. You can rename the product here, then update the price if needed and choose whether or not you'd like to copy the same image(s) from the original product to the new one.
When you've made the necessary adjustments here, click on create copy.
After the copy has been created, you can go in and tweak any other information that needs to be updated, like the description, images, and options.