Templates are pre-defined layouts you can design using a back-end or front-end builder. You can create as many templates as you like and assign them for specific kinds of pages like Shop or Single Products. Moreover, you can control if the specific template should be displayed on pages by given categories or even tags. Conditions give you unlimited ability to create your own rules of where and what should be displayed.
To create Templates, you can use the WooCommerce Builder, an awesome tool with plenty of included elements prepared by our team, especially for the WooCommerce.