Marketplaces and quick-commerce platforms report GMV because it is the largest number available. It is a measure of activity, not income: cancelled and returned orders, cash-on-delivery orders that never deliver, and the platform’s commission are all inside it.
Gran’s P&L starts at GMV, then takes off the markdown from MRP and coupons to reach order value, and works down to net revenue from there. When a platform quotes a take rate, check whether it is a share of GMV or of net sales.
Formula
GMV = Units sold × MRP, summed over every line
Example
120 units of a serum with a ₹1,499 MRP, sold at ₹1,199: GMV is ₹1,79,880, and the markdown from MRP is ₹36,000.
What Blinkit, Zepto, Instamart and other platforms keep from every ₹100 you sell, and your real ROAS after incrementality.
Related terms
- Net revenueNet revenue is what you keep from sales after discounts, refunds, returns and…
- Take rateTake rate is the share of gross merchandise value that a marketplace or platform…
- AOV (average order value)AOV is total revenue divided by the number of orders.
Where this comes up
Operator’s Notes, Issue 01: The storefront is moving, and you won’t own itMeta, Google and OpenAI each made a move on who owns the moment someone decides to buy. What the agent race means for brands, the WhatsApp pricing change Indian D2C should act on, and a 60-minute agent-ready feed audit.Part of the growth marketing glossary by Shiva Sharma.