GMV (Gross Merchandise Value)
GMV is the total value of transactions over a period before cancellations, returns, and fees are deducted, which makes it different from revenue.
How is it different from revenue?
GMV is everything that sold. Revenue is what the business actually recognizes after cancellations and returns — and on a platform business, sometimes only the commission counts as revenue. 10 billion in GMV and 10 billion in revenue are entirely different statements.
Why report live results in GMV?
It's a single number that makes short broadcast windows easy to compare. But it carries no discount rate and no return rate, so GMV alone can't tell you whether the broadcast was profitable.
Frequently Asked Questions
Q. Does GMV include shipping and tax?
Definitions vary by company. Before comparing, align on whether shipping and tax are included and at what point cancellations are deducted.
Q. What window should live GMV cover?
Decide whether you count only during the stream or a period after it. Live keeps converting through replays and search once the broadcast ends.