GMV (Gross Merchandise Value)
GMV (gross merchandise value) is the total value of all orders sold through a store over a period, before returns, discounts, fees, and costs.
What it means in practice
GMV, or gross merchandise value, is the total sales value of all orders processed through a store over a defined period, measured before any deductions for returns, discounts, payment fees, or cost of goods. It is a top-line volume metric that tells an operator how much merchandise moved, not how much profit it generated.
GMV differs from net revenue, which subtracts returns, cancellations, and discounts. Operators use GMV as a headline figure because it scales cleanly across brands and is easy to track in real-time reporting, but it can overstate health if returns or discounting are heavy, so it is read alongside contribution margin.
GMV is the common base for RevShare-style affiliate commission. When a program pays a percentage of order value rather than a flat fee, affiliate-attributed GMV, the order value credited to each publisher, is what the percentage is applied to. This makes accurate, order-level attribution essential to paying partners correctly within e-commerce affiliate marketing.
Affiliate-attributed GMV is measured by tying each confirmed order back to the publisher whose tracked click earned credit, then summing order value over the period. Because average order value and conversion rate both feed GMV, operators watch all three together to judge which partners drive profitable volume rather than discounted churn.
How Track360 handles this
Track360 reports affiliate-attributed GMV per partner and per store in real time, so operators paying RevShare on order value can see exactly which publishers drive volume and reconcile commission against it.
Frequently Asked Questions
Common questions about gmv (gross merchandise value), how it works in affiliate programs, and where it shows up across Track360's supported verticals.
GMV is the total value of orders before any deductions, while net revenue subtracts returns, cancellations, and discounts. GMV measures sales volume; net revenue is closer to what the store actually keeps after those adjustments.
Related Terms
AOV (Average Order Value)
AOV (average order value) is the average revenue per order over a period, calculated as total revenue divided by the number of orders.
Contribution Margin
Contribution margin is the revenue from an order or unit minus its variable costs, representing what is left to cover fixed costs and profit.
E-commerce Affiliate Program
An e-commerce affiliate program is the structured set of deal terms, commissions, and rules a store uses to pay publishers for orders they drive.
E-commerce Affiliate Marketing
E-commerce affiliate marketing is the practice of an online retailer paying external publishers commission on the orders they drive to its store.
Conversion Rate
The percentage of clicks or visitors that complete a desired action, such as making a first deposit, opening an account, or purchasing a trading challenge.
Return on Ad Spend (ROAS)
Return on Ad Spend (ROAS) is a paid-acquisition metric that measures the revenue generated for every unit of currency spent on advertising.
Continue Learning
Free structured courses that cover this topic and more.
How to Migrate an Affiliate Program Without Breaking Attribution
A practical migration plan for operators moving from an existing affiliate or IB system. Map your stack, protect attribution, preserve payout logic, and move to a new setup without creating reporting chaos.
How to Structure Affiliate Commissions
CPA, RevShare, hybrid models, KPI-based deals, and multi-tier payout logic. How to pick the right structure for your program, negotiate without losing margin, and adjust as your affiliate base grows.
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