Gross merchandise sales, or GMS, is the dollar value of items sold in all Etsy marketplaces and includes Depop, Reverb, and Elo7 marketplaces.
Etsy defines this as:
Gross merchandise sales (“GMS”) is the dollar value of items sold in our markets within the applicable period, excluding shipping fees and net of refunds associated with canceled transactions.
Last reported quarter 2023 Q1 it was $3.10 billion, down by -5% year-over-year from $3.25 billion. From $13.49 billion in 2021 it decreased by -1% to $13.32 billion in 2022.