I always thought GMV is more like gross revenue. So if you sell 5 of these widget at $100 your GMV is $500. Which is different from your Net Sales. Because let

I always thought GMV is more like gross revenue. So if you sell 5 of these widget at $100 your GMV is $500. Which is different from your Net Sales. Because let say if one of these widgets got returned. And one of them was sold at 20% discount. Your GMV will still be $500 but your net sales will be: Net Sales = GMV - (discount $20) - (returns $100) = $500 - $20 - $100 = $380