NOTE

This section also has a preview mode for you to visualize how labels will show up on product cards:

Because the space on product cards is very limited, we do not recommend you use text that is too long for a label, or apply more than 2 labels for a product
By adding the block in Product labels and badges section, the labels only show on product thumbnails. In order to show labels on product sections (Quick view, Product page, Feature product), you need to first enable the Show on product page config, then go to the needed section, add a 'Labels and badges' block anywhere you'd like, then click Save.