Every change you do, including those that seem at list level, call it massive updating/adding it's done al item level.
If you cannot add an event receiver that implements some logic to achieve this, I think you can add a "Product State" column to your list with several values (i.e. "available", "archived", etc.) and in the Quick Edit view (check in the Ribbon Menu -> List -> Quick Edit) you can modify several items according to the view filters.
You can create more views with different filters and add them to your quick links navigation for easy access.
Remember to maintain your "Product" list to have less than 5000 items or less than the SharePoint threshold setting by the administrator (5000 is the default), or it will affect the overall performance.