It usually means a product which can be bought from multiple providers, all largely equivalent in terms of features, and therefore primarily competing on price:

It usually means a product which can be bought from multiple providers, all largely equivalent in terms of features, and therefore primarily competing on price: https://en.wikipedia.org/wiki/Commoditization https://en.wikipedia.org/wiki/Commoditization Crude oil and oil paintings signed by Pablo Picasso have both been known to be sold for money, but only one of them is a commodity.