A mini history of the tiny purse
From our friends at JSTOR Daily

Bag (reticule). British. First quarter 19th century. Image and data courtesy The Metropolitan Museum of Art.
The purse has always been political, a reflection of changing economic realities and gender roles. Blame the Balenciaga IKEA bag. When the $2,145 luxury lambskin version of the familiar blue plastic shopping bag appeared on the runway in June 2016, it was the beginning of the end of a glorious era of capacious hobo bags, boat totes, and bucket bags. The upscale counterfeit triggered a backlash against fashion’s flirtation with so-called poverty chic, but also against gigantic bags in general. From a 19-gallon capacity, there was nowhere to go but down.