Google says its Shopping Graph holds more than 60 billion product listings, the figure it gave on 15 October. In what we read, the largest count Amazon has published for products sold on other stores is its Shop Direct programme, which Amazon said in March held over 100 million products from more than 400,000 merchants. On those stated figures, Google’s listings outnumber Amazon’s outside-store products about 600 to 1, by our arithmetic, though the two companies count different things.
Amazon’s side of that comparison is the subject of World Product Graph, the plan in an internal Amazon document Reuters reported on 13 November to gather data on virtually every item for sale. Employees describe the plan as an expansion of Buy for Me and Shop Direct, Reuters reported, which makes Shop Direct the closest stated measure of what Amazon already holds.
Business Pill · Agentic Commerce Explained
An evergreen Business Engineer explainer on agentic commerce, when the shopper is an AI agent. It teaches the concept and does not discuss Amazon’s plan.
Go deeper: who owns product data for AI shopping agents. Six layers sit between a brand’s data and an agent’s checkout, from Amazon’s catalog and Google’s Shopping Graph of more than 50 billion listings to OpenAI’s checkout protocol and the card networks: Amazon vs Google vs OpenAI: Who Owns Product Data for Agents.
The key insight:Google says its Shopping Graph holds more than 60 billion product listings, with more than 2 billion refreshed every hour; Amazon said in March that Shop Direct, its listing of products from other stores, held over 100 million products, about 600 to 1 by our arithmetic.
Google has put a number on the graph several times. A February 2023 Google post said it houses more than 35 billion product listings. In January 2026, Sundar Pichai told the NRF retail conference, in remarks Google published: “It has over 50 billion product listings, including inventory, prices and reviews”. He added: “More than 2 billion of those listings are refreshed every single hour”.
The latest figure came with Universal Cart. Google’s 15 October post says: “The cart is built on the 60+ billion continually refreshed product listings in Google’s Shopping Graph”. From 35 billion to 60 billion is about 25 billion more listings in roughly three years and eight months, a rise of about 71%, by our arithmetic.
The hourly refresh alone is larger than Amazon’s outside count. Two billion listings refreshed each hour is about 20 times the 100 million products Amazon gave for Shop Direct, by our arithmetic.
Stated sizes: Google Shopping Graph listings (Google posts, February 2023, January 2026 and 15 October 2026) against Amazon Shop Direct products from other stores (Amazon, 11 March 2026) and The Information’s 250 million figure (28 October, as reported). Google counts listings, Amazon products. The 600 to 1 ratio is our arithmetic.
What Amazon Has Said About Its Own Count
Amazon’s March post says: “Shop Direct now includes over 100 million products from more than 400,000 merchants, with tens of millions of products available to purchase through the AI-powered Buy for Me feature”. It describes Shop Direct as listing products from other stores in Amazon’s search results, where customers either go to the merchant’s site or tap Buy for Me to have Amazon complete the purchase.
A later figure is larger. The Information reported on 28 October that Amazon now has 250 million listings that link to products sold elsewhere, about 2.5 times the March count, as we reported at the time. On that figure the gap with Google’s 60 billion is about 240 to 1, by our arithmetic. Amazon has not confirmed the 250 million figure in anything we read.
The document Reuters reviewed spells out why the count matters to Amazon. It says: “Amazon cannot be the go-destination for every shopping mission if customers must leave to research product relationships on Google, brand websites, and review sites”. Morgan Stanley’s figures on where shoppers start their research, which Reuters cited, are in our report on the plan.
Where OpenAI, Perplexity and Meta Stand
We found no stated catalog size from OpenAI or Perplexity in what we read. Amazon sued Perplexity last year to stop its agent shopping on Amazon, a case Reuters says is still ongoing, and blocked Meta’s Muse in September. On Forter’s agent order data, Muse bought at 74% of stores with any agentic order, against 24% for OpenAI’s checkout.
Amazon executives have grown wary of AI shopping agents that may send customer traffic to other sites with greater or more complete data, people familiar with the matter told Reuters. Under the document, World Product Graph would gather that data from brands that contribute it and by crawling other retailers’ sites, Reuters reported.
The Structural Read
As we read the stated figures, the data race behind Amazon’s World Product Graph is first a race of scale: Google’s graph grew by about 25 billion listings between its 2023 and October 2026 figures, by our arithmetic, a gap many times larger than everything Amazon has said it lists from other stores. The counts measure different things, listings against products, so the ratio shows the order of magnitude, not a like-for-like gap.
FOR BRANDS Amazon said in March that merchants can join Shop Direct through third-party product feeds; the document Reuters reviewed says Coca-Cola and Bayer, among others, have signed up to contribute product data.
FOR AI SHOPPING AGENTS Amazon executives are wary of agents that may send traffic to sites with greater or more complete data, people familiar told Reuters; Amazon blocked Muse in September and is in court with Perplexity.
FOR GOOGLEGoogle says the Shopping Graph now powers Universal Cart across Search and the Gemini app, built on its 60+ billion listings.
The framework argues: “The transformer is a commodity now; what changes between paradigms is where intelligence accumulates and who can capture it.”
As we read it, product data is one of the places shopping intelligence accumulates, and both Google and Amazon state their counts as a measure of it. The framework predates these figures and does not discuss Google or Amazon.
Each square is 100 million. Google’s stated 60+ billion Shopping Graph listings (15 October 2026) against Amazon’s stated over 100 million Shop Direct products (11 March 2026). Google counts listings, Amazon products; the 600 to 1 ratio is our arithmetic.
What Is Not Established
Google counts listings and Amazon counts products, and one product sold by many stores can appear as many listings, so the 600 to 1 ratio compares stated figures, not like-for-like catalogs. Neither company says how it de-duplicates. Amazon’s own store catalog size is not in anything we read, and Shop Direct covers only products sold on other sites. The document, as Reuters described it, gives no target size for World Product Graph, and Reuters could not determine if or when the plan may be implemented.
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Google states more than 60 billion Shopping Graph listings, up from more than 35 billion in 2023, with more than 2 billion refreshed every hour. Amazon’s stated count for products from other stores was over 100 million in March, about 600 to 1 on those figures. Reuters reported that, with more complete data, Amazon could cut into Google’s dominance in online search.
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A note on sourcing. We read Google’s 15 October 2026, January 2026 and February 2023 posts and Amazon’s 11 March 2026 Shop Direct post in full on the companies’ own sites. Reuters’ 13 November exclusive was read in full through its MarketScreener syndication; we did not see Amazon’s internal document. The 250 million figure is The Information’s, as we reported on 28 October. The 600 to 1, 240 to 1 and 20 times ratios and the 71% rise are our arithmetic. We did not contact Google, Amazon, OpenAI or Perplexity.
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur (for example, How to Digitize a Family Business in Europe) and HackerNoon. Find him on LinkedIn and Substack. See how we source.
