fancy goods vs commodity

fancy goods and commodity both are nouns.

Word	Noun	Adjective	Verb	Adverb
fancy goods	Yes	No	No	No
commodity	Yes	No	No	No

As nouns, commodity is a hypernym of fancy goods; that is, commodity is a word with a broader meaning than fancy goods:

fancy goods: goods that are chiefly ornamental
commodity: a raw material that is sold in large quantities, usually to other businesses for manufacturing or production purposes

Other hypernyms of fancy goods include good, trade good.

fancy goods (noun)	commodity (noun)
goods that are chiefly ornamental	a raw material that is sold in large quantities, usually to other businesses for manufacturing or production purposes