In this episode, I expand on my latest column in The Drum, where I unpack new data showing that Amazon now averages 25+ sponsored products per page load—far more than Walmart or Home Depot. Despite fears that ad overload would harm the customer experience, Amazon maintains near-universal ad coverage while keeping relevance high, even on complex long-tail searches. That level of performance is only possible because Amazon invested early in sophisticated ad tech capable of matching ads to intent across every type of query.

I also explore why Amazon’s high-density ad surface still works economically. By expanding formats and inventory, Amazon moderates CPC inflation while still driving huge revenue volumes—something most mid-tier retailers can’t replicate without upgrading their ad tech. For retailers, brands, and agencies, Amazon’s model is both a blueprint and a warning: dense ad monetization only works if relevance, user experience, and supply all scale together.

This episode is sponsored by Mirakl Ads

Timeline

00:00 – Amazon really is a sea of ads!
00:30 – How Amazon’s ad load compares to Walmart and Home Depot
01:35 – Why Amazon’s dense ad surface still works
02:45 – Long-tail queries and why most retailers fail to monetize them
04:00 – The “doom loop” for mid-tier retail media networks
05:10 – Amazon’s Unified Campaign Manager and keeping relevance high
06:45 – The economics of abundant inventory and moderated CPCs
08:15 – What Amazon’s ad saturation means for everyone else

Links & Resources

Read my full article on The Drum - You're not imagining it: Amazon really is a sea of ads (and it still works)
Get Pentaleap's H2 2025 Sponsored Products Benchmarks Report
Read my articles:
- The Retail Media Doom Loop
- Best Buy Wants To Become An Ad Platform, Not Just Another RMN
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Amazon’s Sea of Ads: Why 25+ Sponsored Products Per Page Still Works

Retail Media Breakfast Club