Environment: Sitecore 9.0.2 + SXA 1.7.1
What I am doing: The field labels of the inbuilt templates and renderings provided by SXA were not compatible with my requirement. So, I started with creating a rendering variant as mentioned in the documentation.
So, I cloned the default rendering 'Promo' to 'Promo1'. I noticed that a template 'Prommo1' has also been created.
I modified the fields and their labels of the template 'Promo1'. Further, I created an item 'Item1' based on the template 'Promo1'.
What I found: 'Item1' was having the fields and the lables as per the template 'Promo' but I was expecting it to have the fields and the labels as per the template 'Promo1'.
I checked the template by clicking on the link in the 'Quick Info' section of the 'Item1'. And the template has my changes.
Am I missing something?