Related resource: [VIDEO] How to Set Sales Velocity Notifications
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For information on how to enable this feature please refer to the following help article.
(This must be done first.)

You can find the product configuration options by selecting "Settings" from the main navigation menu on the left of the screen.

Next select "Product Configuration" from the "Notification Settings" section.

First select the desired notification type from the dropdown menu, then click the "Filter button".

Next click the blue "Actions" button menu, and then select the option to add products.

Finally you will want to select one (or more) products from the "Select Products" dropdown, then set the configuration options below it.  (note: You must select at least one product and have a value in all fields below it.) 

To remove your products, first select the products you wish to remove from the column on the far left, then click the teal "Bulk Actions" button and select "Delete Selected Product Configurations".