Single product Web sites vs. Shopping Cart driven Web sites?

I’m a newly hired intern at a company who is currently revamping the design of their Web site and my current job is to do some research on which idea has the most potential. The company was throwing around the idea to have an individual Web site for each of the products being sold and with this being said there are hundreds of products that will require their own site. The company has done this before and found that each individual site indexes very well organically when the products are searched for. My question is, can we build a single shopping cart driven site, with hundreds of products, and get it to index as well organically as the individual product sites with a URL name that is the same?