Modify the parameters that are used to register the Woocommerce Product post type

modify-woocommerce-cpt-registered-parameters.php

/**
 * Modify the parameters that are used to register the Woocommerce Product post type.
 */
add_filter( 'woocommerce_register_post_type_product', 'so_26712459_post_type' );

function so_26712459_post_type( $args ){
    $labels = array(
        'name'               => __( 'Activities', 'your-custom-plugin' ),
        'singular_name'      => __( 'Activity', 'your-custom-plugin' ),
        'menu_name'          => _x( 'Activities', 'Admin menu name', 'your-custom-plugin' ),
        'add_new'            => __( 'Add Activity', 'your-custom-plugin' ),
        'add_new_item'       => __( 'Add New Activity', 'your-custom-plugin' ),
        'edit'               => __( 'Edit', 'your-custom-plugin' ),
        'edit_item'          => __( 'Edit Activity', 'your-custom-plugin' ),
        'new_item'           => __( 'New Activity', 'your-custom-plugin' ),
        'view'               => __( 'View Activity', 'your-custom-plugin' ),
        'view_item'          => __( 'View Activity', 'your-custom-plugin' ),
        'search_items'       => __( 'Search Activity', 'your-custom-plugin' ),
        'not_found'          => __( 'No Activity found', 'your-custom-plugin' ),
        'not_found_in_trash' => __( 'No Activities found in trash', 'your-custom-plugin' ),
        'parent'             => __( 'Parent Activity', 'your-custom-plugin' )
    );

    $args['labels'] = $labels;
    $args['description'] = __( 'This is where you can add new activities to your store.', 'your-custom-plugin' );
    return $args;
}