Thank you for the reply @ryanr14!
I ended up going with the following code in my functions.php file:
/* Customize Product Tags Labels */
add_filter( 'woocommerce_taxonomy_args_product_tag', 'custom_wc_taxonomy_args_product_tag' );
function custom_wc_taxonomy_args_product_tag( $args ) {
$args['label'] = __( 'Authors', 'woocommerce' );
$args['labels'] = array(
'name' => __( 'Authors', 'woocommerce' ),
'singular_name' => __( 'Authors', 'woocommerce' ),
'menu_name' => _x( 'Authors', 'Admin menu name', 'woocommerce' ),
'search_items' => __( 'Search Authors', 'woocommerce' ),
'all_items' => __( 'All Authors', 'woocommerce' ),
'parent_item' => __( 'Parent Author', 'woocommerce' ),
'parent_item_colon' => __( 'Parent Author:', 'woocommerce' ),
'edit_item' => __( 'Edit Author', 'woocommerce' ),
'update_item' => __( 'Update Author', 'woocommerce' ),
'add_new_item' => __( 'Add New Author', 'woocommerce' ),
'new_item_name' => __( 'New Author Name', 'woocommerce' )
);
return $args;
}
I did not want to install another plugin and felt like this approach was better for me. I do not recall where I obtained the code from. Probably WooCommerce support but I am not sure as a lot of searching went in to it! Either way, this can be marked as resolved.
Thanks again!