Welcome back to Human in the Loop! If you missed the first episode, this new, bi-weekly podcast dives into the dynamic intersection of human intelligence and cutting-edge technology within the ever-evolving landscape of e-commerce.

From in-depth discussions on Artificial Intelligence to brands that have launched and gone viral on TikTok to the stories behind today’s biggest technology companies, brands, CEOs, and sellers…You’ll learn today’s greatest strategies and insights through the most up-to-date conversations with industry leaders and innovators that you’ve never seen on a show before.

Welcome to the forefront of the e-commerce revolution, where being a Human in the Loop is not just a strategy.

But the essence of progress.

Digging into Episode 2

The first episode of a groundbreaking series, Benchmark Blitz, explores the most essential trends and changes happening in two of the world’s largest marketplaces — Amazon and Walmart.

Episodes from this series will help you understand how Amazon and Walmart are changing, how seller strategy is shifting, how buyer behavior is changing, how the economy is altering both marketplaces, and ultimately, what trends you need to be aware of as an advertiser and seller.

We are joined by industry expert, Laura Pattison, who reviews key data points and explores takeaways that largely speak to current sellers on either marketplace.

Key Takeaways

This episode is a gold mine for sellers who want critical data and analysis to succeed on Amazon, Walmart, or both. We know your time is valuable, so if you don’t have time to listen to the full episode yet, here’s what you need to know.

Amazon vs Walmart:

  • Efficiency Comparison (ROAS): Walmart exhibited strong efficiency over Amazon in 2022, but the efficiency gains began to decrease in 2023, indicating increased competition and growth on Walmart.
  • CPC Trends: Amazon and Walmart are both increasing in saturation and competition. Cost-Per-Click (CPC) for both Amazon and Walmart increased each quarter in 2023, with Walmart’s CPC steadily rising. 
  • Walmart seems to show great efficiency despite increasing CPCs. Walmart displays better returns on clicks than Amazon in some cases. 
  • Conversion Rate and AOV:** Walmart’s conversion rate is higher than Amazon’s, while Walmart’s Average Order Value (AOV) is notably lower. This suggests that Walmart attracts buyers looking for everyday low prices and lower-value goods.
  • CPC Increase Impact: The increase in CPCs on both platforms led to tighter profit margins for advertisers, emphasizing the challenges faced in maintaining profitability.
  • 2024 Outlook:** We anticipate this election year’s impact, making predictions challenging, but suggest AOVs and conversion rates may return to Q3 levels.


  • Impact on the Economy: Walmart’s lower AOV in the first half of 2023 suggests economic softness, but a steady increase in the second half indicates growing consumer confidence.
  • Preferable Entry Timing: Entering Walmart’s marketplace is advantageous due to its strong efficiency and lower CPC compared to Amazon.
  • Considerations for Advertisers:** Advertisers should pay attention to buyer behavior, conversion rates, and AOV to adapt strategies based on changing market dynamics.
  • 46% Greater Efficiency:** Despite efficiency decline, Walmart’s efficiency remained approximately 46% greater than Amazon, emphasizing significant opportunity on Walmart.


  • Cautious Consumer Behavior:** In the first half of 2023, Amazon shoppers were price-conscious, seeking bargains and being conservative with spending.
  • Efficiency Decline on Amazon:** Amazon experienced a softer efficiency throughout 2023, with a noticeable decline in Q4, indicating increased competition.
  • ROAS Indicator:** Return on Ad Spend (ROAS) on Amazon showed a decline in efficiency, but the year-over-year difference was 4%, with a 7% decline in Q4.
  • Sales Volume Increase:** Despite efficiency decline, total ad sales on Amazon increased by 55%, indicating a significant acceleration in sales volume.
  • CPCs Increase:** Amazon’s CPCs increased in 2023, particularly in Q4, showcasing heightened competition among brands for consumer dollars.
  • Sales Per Click Indicator:** Sales per click on Amazon remained relatively flat, with brands adjusting to changes in consumer behavior and competition.

If you can believe it, we dig even deeper into these details during the full episode. Check it out here and truly up your e-commerce game.