Generally, here is a good way to approach the decisions on Products / Variants.
Use a Variant when:
The core product Is the same
The item shares the same fundamental identity or purpose, and only differs in attributes like:
All or almost all descriptive attributes
All or almost all technical attributes
All or almost all images/drawings/files etc
Customer decision is attribute-based
Customers expect to choose from a dropdown or selector
Inventory is managed based on variant attributes
Each variant has its own SKU, stock level, and possibly price.
Where Search Engine Optimisation (SEO) and User eXperience (UX) benefit from consolidation
Keeping variants under one product avoids duplicate content, reduces inconsistencies and improves navigation for end users.
Use a Separate Product when:
There is a different Use Case or Target Market
Items are similar, but they serve different purposes, have different manufacturers, or appeal to different audiences or markets
Items have major feature differences
Distinct branding or messaging is required
The items have different names, marketing strategies, or packaging designs.
Search behaviour Is different
If customers would search for them using different keywords or expect separate listings.
A decision checklist could be something like the following:
Ask yourself:
Would a customer expect to see these options on one page?
Do the items differ only in basic attributes?
Is inventory tracked separately for each variation?
Would combining them improve or hurt discoverability?