Trader Joe’s Tote Bag: Why Some People Are Paying $500 For Something Worth $2.99
First, it was the Stanley insulated cup. Now, it’s the Trader Joe’s canvas mini tote bag.
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Customers are snatching up Trader Joe’s canvas mini tote bags, which sell for $2.99 in stores, and reselling them online for nearly 200 times their retail price, CNN reported.
Customers have been reselling the bags, which are available in blue, red, green and yellow, on eBay and Facebook Marketplace. Hundreds of mini tote bags have been posted on eBay with starting prices ranging from $5 to $1,000. On March 12, this set of four bags sold for $1,000 while this single bag sold for $999 — each seller has another lot available for purchase as well.
The tote bag craze has gone viral on TikTok with more than 11 million views on the platform at the beginning of March.
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Why are people spending so much money on shopping bags?
TikTok user @pyoneaye posted a video explaining that the tote bags have become almost like a status symbol and say a lot about who you are.
“People love to buy into an image,” she shared. “So if you own a Trader Joe’s tote bag, especially this limited edition mini one, you appear to be trendy and in with the times.”
The tote bags have been selling out quickly. An employee at an Iowa-based store told CNN that the bags were only available for a week before they sold out. The next shipment is not expected until September.
The viral chaos at Trader Joe’s is similar to the Stanley cup craze of last year. On December 31, 2023, Target released a limited edition Valentine’s Day collection of Stanley tumblers, and people lined up outside stores waiting to rush in and grab the items. Since then, Stanley has reworked product launches to make them a little less chaotic.
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This article originally appeared on GOBankingRates.com: Trader Joe’s Tote Bag: Why Some People Are Paying $500 For Something Worth $2.99
