On the other hand, convolution itself is already "just" multiplication. e.g. multiplying polynomials is convolution of their coefficients (to get the x^n coefficient, you need to add up all the combinations of a_i a_j x^i x^j where i+j=n), and this point of view also applies to e.g. linear time-invariant systems[0] by thinking of your function as the weights of an infinite weighted sum (so sort of an infinite polynomial) of time-shift operators (and this point of view works for other groups, not just time shifts). So f(t) is then the "coefficient" for the t-shift, and multiplying two such weighted sums again has you convolve the coefficients (so your original functions). The jargon way to say this is that your space of G-invariant functions is secretly the free algebra generated by G (G being a group). From that point of view, convolution is the "natural" multiplication on G-invariant functions. One can then ask whether there's a Fourier transform for other groups, which leads to abstract harmonic analysis. e.g. the Mellin transform is the Fourier transform for scale/stretch invariant functions as opposed to shift invariant.
[0] The typical systems that one studies in signal processing contexts where convolution and Fourier transforms are your bread and butter: https://en.wikipedia.org/wiki/Linear_time-invariant_system