There are 5 items types. Item type can only be changed during creation of the item. Once the item is created, item type cannot be changed.
Regular item is a simple item.
Static bundle item is made up of one or more regular items. All items in the bundle are sold together. One example is to create a bundle with a DVD player and a home theater system. Bundle item has its own price and is independent of the items that make up of the bundle item. This allows retailer to run promotion by bundling items together with a special price to boost sales.
Recommended bundle item is made up of one or more regular items. Price of the recommended bundle is the sum of all items that make up of the recommended bundle item. This makes it convenience for customers to add multiple items into the shopping cart together. Customers can then remove individual items from the shopping cart one by one.
Template items are convenience items created to help generation of SKU items. For example, apparel retailers may carry man's shirt that can have 3 sizes, small, medium and large. The shirt can have 2 colors, blue and yellow. To be able to keep track of inventory correctly, you need to have an item for every combination. This means creating 6 items with almost all information the same. Template items allow users to create the item once and generate the corresponding SKU items to keep track of inventory. In addition, this allows us to show only one item to the customer and the customer can configure the right size and color during checkout.
SKU is known as stock keep unit and this item is generated from template items.