Gross Merchandise Volume
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Gross Merchandise Volume (GMV) refers to the total value of merchandise sold through an e-commerce platform over a specific period. It includes the total amount of all completed transactions without deducting returns, cancellations, or other fees. GMV is an important metric for assessing the business scale and market performance of an e-commerce platform, but it does not directly reflect the platform's net income or profitability.GMV = Sales + Cancelled Order Amount + Rejected Order Amount + Returned Order Amount.GMV is not actual transaction data, but can be used for reference purposes. As long as the customer takes a purchase action, it will be counted in GMV whether the purchase is actually made or not. It can be used to research customer purchase intent. E-commerce platforms like JD.com and Taobao generally use GMV, which has better timeliness than other metrics.
Definition
Gross Merchandise Volume (GMV) refers to the total value of goods sold through an e-commerce platform over a certain period. It includes the total amount of all completed transactions without deducting any returns, canceled orders, or other fees. GMV is an important indicator of the business scale and market performance of an e-commerce platform, but it does not directly reflect the platform's net income or profit.
Origin
The concept of GMV developed with the rise of e-commerce, becoming widely used in the late 1990s and early 2000s. As online shopping became more popular, GMV became a key metric for assessing the success of e-commerce platforms.
Categories and Features
GMV can be categorized by different criteria, such as time periods (e.g., quarterly or annually) or product categories (e.g., electronics, clothing). Its features include: 1. Reflecting the sales scale of the platform; 2. Not accounting for the impact of returns and canceled orders; 3. Serving as a reference indicator for market trends and consumer behavior.
Case Studies
Case Study 1: JD.com frequently cites GMV in its annual reports as an indicator of business growth. For instance, in a particular year, JD.com's GMV grew by 30%, indicating a significant increase in the total sales value on its platform. Case Study 2: Taobao also uses GMV to demonstrate its market share and competitiveness. By analyzing changes in GMV, Taobao can assess its performance in different markets.
Common Issues
Common issues include: 1. Is GMV equivalent to revenue? The answer is no, as GMV does not deduct returns and canceled orders. 2. Can GMV reflect profitability? No, GMV only reflects sales scale, not net profit.
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