Gross Merchandise Volume (GMV) is a term used in online retailing to indicate the total sales monetary value for merchandise sold through a particular marketplace over a certain time frame. It includes any fees or other deductions which a seller might calculate separately. GMV is a measure of the growth of a business or the use of a site to sell merchandise owned by others. It is calculated before the deduction of any fees or expenses and is often used to determine the health of an e-commerce site's business because its revenue will be a function of gross merchandise sold and fees charged
. The formula to calculate GMV is the product of the total number of transactions and the average order value (AOV), or sale price per item
