Products properties are used to create variants for the same product in the Products details page. For example, a certain smartphone can have a property "Color" come in three colors - this variations in properties create three different variants of the same product.
If the product doesn't have any properties or property values, it only has one variant - itself. If the product has multiple variants, the product itself will serve as a product group for its variants. To add property values and crate product variants click on Edit option. 
This opens Product details page.
- All defined properties are listed in the Properties section.
- Enter desired property values. You can use TAB keyboard key for faster movement to the next property value.
- Click on [SAVE] button or press F9 keyboard key to save the changes, or click on the [CANCEL] button to ignore the changes and reload the product information.