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 2022 Q3 it was $3.00 billion, down by -3% year-over-year from $3.11 billion. From $10.28 billion in 2020 it increased by 31% to $13.49 billion in 2021.