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What is GMV?
Gross Merchandise Value — total value of merchandise sold through a marketplace.
Detailed Explanation
GMV (Gross Merchandise Value) represents the total value of merchandise sold on a marketplace before deducting fees, returns, cancellations, and discounts. It's the most commonly used top-line metric to measure marketplace size and growth. For example, Amazon India's estimated GMV in FY2026 is ~$30 billion, Flipkart's is ~$25 billion, and Blinkit's is ~$3.5 billion. While GMV shows market scale, it doesn't reflect profitability — Net Revenue or Take Rate (commission earned as % of GMV) are better profitability indicators.