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It seems for eCommerce CTAs, the most common label for buying products is "Buy now".

From a marketing/SEO point of view it seems like the best option with highest CTR, but from an accessibility point of view it doesn't seem good, as out of context you don't know what you are buying.

Would "Buy PRODUCT NAME now" be a better solution? Have there been tests for this?

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From an SEO point of view, you could argue that "Buy now" is not ideal, for the same reason that "click here" isn't. See Google's documentation on descriptive link text for more.

I'm not aware of any tests demonstrating the effect on CVR of more- or less-specific labels. I'd guess it's quite variable depending on the product, demographic, etc. concerned, and since it's an easy thing to A/B test there's every reason to do so for your own site.

Should that demonstrate that CVR is significantly worse with more specific labels, aria-label exists specifically for providing more contextual information to those with accessibility needs. I'm not an accessibility expert, so you may wish to explore that further with someone who is.

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