Gross Merchandise Value (GMV) represents the total sales dollar value of merchandise sold through a marketplace or platform. It's a top-line metric that shows the total transaction volume. Important distinctions: - GMV includes the full transaction amount before any deductions - It doesn't account for returns, discounts, or platform fees - Revenue and GMV are different—revenue is what the platform actually keeps GMV is commonly used by marketplaces and platforms to demonstrate scale and growth, even if they only keep a percentage as revenue.