If the It girls of the world were any indicator, one might assume that tote bags are running a big business in the fashion world. But according to one new study revealed by Business of Fashion, the handbag style has actually been suffering as of late.
According to BoF, the growth of the handbag business at large has dipped to record lows, despite more and more brands offering styles that are much more affordable than in previous seasons.
"There’s been this myth that no one is buying handbags anymore, but really it’s a change in trend away from the big totes everyone was buying a few years ago, to smaller bags that don’t cost as much," Dorothy Lakner, a New York–based analyst at Topeka Capital Markets, told BoF.
Translation? People are buying small leather goods—more modestly sized crossbody bags and large wallets—and skipping out on the purchase of large totes. If you consider fashion's general trend toward minimalism this year, it's not so surprising that women would apply the same preferences to their bags.
For our part, we definitely see the practicality of having a big tote or two in our closets, but we also love the on-trend smaller bags everyone is sporting. Keep scrolling to shop some of our favorite small bags now!
What are your favorite bags to shop? We're really into the crossbody bag trend. Share your thoughts below!