Shopify Metric
E-commerce
GMV = Sum of All Order Values (Before Returns and Discounts)
Gross merchandise volume (GMV) is the total value of all merchandise sold through your Shopify store before deducting returns, discounts, and fees. It represents the top-line scale of your e-commerce operation.
Full guide: definition, formula, and benchmarksShopifyE-commerceGross Merchandise Volume
Gross merchandise volume (GMV) is the total value of all merchandise sold through your Shopify store before deducting returns, discounts, and fees. It represents the top-line scale of your e-commerce operation.
How to calculate gross merchandise volume
Why gross merchandise volume matters for Shopify users
GMV provides the broadest measure of sales activity and is the starting point for understanding revenue flow. Tracking it alongside net revenue reveals how much value is lost to returns, discounts, and processing costs.
Shopify merchants can decompose GMV by product category, channel, and geography to understand which segments drive the most sales volume.
Understand and act on gross merchandise volume with KPI Tree
Sync Shopify order data to your warehouse and compute GMV in KPI Tree. Build a revenue waterfall tree from GMV through returns, discounts, and fees to net revenue.
Assign commercial leadership ownership and set alerts on GMV growth rate to detect acceleration or deceleration trends.
Get started with your Shopify data
MCPPull metrics from Shopify directly through the Model Context Protocol.
Connect your existing warehouse where Shopify data already lands.
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Related Shopify metrics
Average Order Value
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AOV = Total Revenue / Number of Orders
Average order value (AOV) is the mean monetary value of each completed order. It captures the combined effect of pricing, bundling, upselling, and promotional strategies on basket size.
Revenue by Channel
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Revenue by channel segments total sales by the channel through which they occur, including online store, point of sale, social commerce, marketplaces, and wholesale. It shows channel contribution and diversification.
Product Performance Analysis
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Product performance analysis evaluates each product on revenue, units sold, margin, return rate, and conversion rate. It identifies which products drive value and which underperform across multiple dimensions.
Store Conversion Rate
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Store Conversion Rate = (Purchasing Visitors / Total Unique Visitors) × 100
Store conversion rate is the percentage of unique visitors who complete at least one purchase. It is the broadest measure of how effectively your store converts browsing traffic into paying customers.
Explore gross merchandise volume across integrations
All Shopify metrics
Average Order ValueCart Abandonment RateCheckout Conversion RateCustomer Acquisition CostCustomer Lifetime ValueCustomer Repeat RateDiscount Usage AnalysisFulfilment SpeedInventory TurnoverMarketing Channel AttributionNew vs Returning CustomersOrder FrequencyOrders Per CustomerProduct Performance AnalysisProduct Return RateProfit Margin by ProductRevenue by ChannelRevenue by GeographyRevenue Per VisitorSessions to Purchase RatioShipping Cost AnalysisStore Conversion RateTop Selling Products AnalysisTraffic Source PerformanceAbandoned Cart Recovery RateAverage Product RatingCart Conversion RateCheckout Abandonment RateCollection Performance AnalysisCustomer Cohort AnalysisCustomer Segmentation AnalysisPayment Method DistributionRevenue Growth RateSeasonal Trend AnalysisEmpower your team to understand and act on Shopify data
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