Hello,
You installed not the latest version of the theme, but the version of Core plugin was a new one. I’ve updated the theme and installed the “Default red” demo version. Please check.
We provide import of products examples with placeholders, so you need to upload own products and images. Please read WC documentation – https://docs.woocommerce.com/document/managing-products/
This article will help you to sort out with settings of images – https://xstore.helpscoutdocs.com/article/89-product-images
Regards