You have the ability to display 3 different badges per product.
To enable the LIMITED badge, go to a product (item) and tick the highlight item in shop box.
If you would like to change the label to something else, you can do so by updating the value in the snippet called ListingsBoxTips.
The NEW badge automatically gets displayed on the category listings pages when a product is new in store. The functionality works off the Release Date field found under the settings section on the item page (Shopware will need to confirm for how long a product is considered to be new in store)
The Sale badge automatically displays when a product is on sale.