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‍Gross merchandise value (GMV), or gross merchandise volume, is the total value of the products sold through an eCommerce store or platform during a specific period. It’s broadly used as a key performance indicator (KPI) to measure a business’s growth. 

You can calculate GMV by multiplying the cost of the products by how many products were sold. For eCommerce stores, the GMV could be equal to revenue. eCommerce platforms may also track GMV as a growth metric, but their revenue may come from transaction fees, ad revenue, and other sources — it’s often much lower than the GMV.

There could be many ways to grow your business by increasing your GMV, including cross-selling, offering discounts for large orders, or creating a loyalty program.