Commoditising

Part of speech: verb

Definitions

1. Turning a product or service into a basic, undifferentiated item traded mainly on price
2. Transforming goods or services so they are viewed as standard and interchangeable by consumers
3. Converting offerings into commonplace items whose value depends mostly on cost rather than unique features

Etymology: "Commoditising" is the British spelling of "commoditizing," the present participle of "commoditise," which is a verb built on "commodity." The base word traces back to Latin "commoditas," meaning convenience or advantage, from "commodus," suitable or fitting. That sense of something useful and convenient still lingers in the older meanings of "commodity," which once referred to any benefit or profit before it came to mean a raw material or goods traded in bulk. The verb carries that trade sense forward. To commoditise an offering is to strip away its distinctive qualities until buyers treat it as interchangeable with its rivals, so that price becomes the main reason to choose it. A once-special product turns into a generic one, and competition shifts from what it does to how cheaply it can be supplied.

Synonyms: commodifying