lunch meat vs cold cuts

lunch meat and cold cuts both are nouns.

Word	Noun	Adjective	Verb	Adverb
lunch meat	Yes	No	No	No
cold cuts	Yes	No	No	No

As nouns, cold cuts is a hypernym of lunch meat; that is, cold cuts is a word with a broader meaning than lunch meat:

lunch meat: any of various sausages or molded loaf meats sliced and served cold
cold cuts: sliced assorted cold meats

Other hypernyms of lunch meat include loaf.

lunch meat (noun)	cold cuts (noun)
any of various sausages or molded loaf meats sliced and served cold	sliced assorted cold meats