In shop page the product sorting by default is set to Default, if you want to set it to Date (Sort by Latest) as on this example…

you need to piece of code in your functions.php

and now the product sorting is set to Sort by Latest. this is by latest product up to date.

add_action( 'woocommerce_default_catalog_orderby', 'custom_default_catalog_orderby' );

function custom_default_catalog_orderby( $sort_by ) {
	/*
		menu_order (Default) – by the custom order first, then by product name
		popularity – by the number of sales
		rating – by the average rating
		date – recently added products will be displayed first
		price – cheapest products will be displayed first
		price-desc – the most expensive first
		rand – in a random order (read also how to retain pagination in this case)
	*/
	return 'date';
}