When creating a new product or editing an existing one (on the General tab), you can assign it with two different statuses:

 

•Public status - status of the product typically used to be displayed to website visitors. For example Featured product, Sale, Bestseller, etc.

•Internal status - status of the product typically used for internal purposes, i.e. displayed only in the user interface and not visible to website visitors. For example New model, Old model, Discounted, etc.