A single category label describing what a product is.
Every product has exactly one type. It should describe what the object is (T-Shirt, Ceramic Mug, Running Shoe) — not the campaign, the audience or the season. Product type feeds automated collection rules, structured data on the storefront and Google Shopping product categorisation. Because there is only one per product, keep it clean: use tags for cross-cutting attributes and metafields for structured data.