Wallets for Women, Not a Purse

March 01, 2017

​​Why Wallets for Women?

​The simple answer is why not?  Being that a wallet is something smaller than a purse and would carry the same types of items as a mans wallet, it makes sense that women would have a wallet too.  But over the years we've seen what used to be a much larger checkbook style wallet for women, which sometimes included the snap-closure section for coins, etc., evolve into a wallet the size of a mans.  The logic for this comes with the evolution of style, preference, but more importantly convenience.

​Market for Womens Wallet

Wallets are for both men and women, and are designed to carry personal belongings such as cash, cards (business cards, credit and debit cards, identification cards, and gift cards etc.), other identification documents, and photographs. These are also among the most fashionable and popular products among people. Ladies wallets are not only comfortable and convenient to carry but have come to be seen as a status symbol in urban society. Consequently, the demand for luxury and premium wallets has gained momentum. Various handbag (wallet) companies are adopting innovative strategies, according to the changing consumer demography and preferences, such as rising demand for eco-friendly handbags, to tap the market.​

Technavio analysts forecast the global wallets market to grow at a CAGR of 4.77% and 4.93%, in terms of revenue and volume, respectively, during 2014-2019.​

​Who's Buying Wallets for Women

​Women, of course, but there are demographics involved (see chart).  Spending on women's accessories, including wallets for women during the 12 months ending 2016 showed over 30% of women, where the household income is over $100,000, were willing to spend upwards of $250 on a wallet or other accessory.  That may not sound like much, but for a wallet, it's pretty inclusive of most brands and what they have available for sale.

Purses, Wallets and Gender Spaces

Everything gender is related to purses and wallets, or is it?  Traditionally, women have been leading the pack with purses despite the knowledge that through the history of the wallet, it's well known that pouches, the early ancestors of today's purses, was really the source of both wallets and purses.  However, even in today's gender evolving culture, the stereotype still exists, but that is changing.  Globally, there was never a true standards of which gender could or would only carry one or the other.  We've found great success, as men have been moving to more urban areas, walking more and using readily available public transit, the need to carry more. The traditional backpack has devolved into the "murse". Not the "male nurse", but a man purse.  Not a true backpack, or a real wallet, but something substantial enough to carry the necessities to get a man through the day.

So, if men can carry a "purse" then why can't women carry a wallet?  Well they can, and have for sometime, but the footprint has changed.  What was once a large storage space, taking 2 hands to operate, and looked like a large billfold at 4 inches thick, has become a simple bi-fold wallet.  Wallets for women have come home, and the reason?  Transferability, driven by fashion.

 

Transfer Wallet

​Is there a women you know who doesn't own more than one purse?  No, there isn't, I'm sorry.  Even if they're a minimalist, she will have at least two, one casual and one formal.  If we're talking about the normal woman, then there are usually many purses involved.  Therein lies the problem, doing a content transfer when switching out purses.  Most women I talk to have duplicate things in each purse, so they can grab and run.  But there's one thing you can't duplicate, your wallet.  Specifically, all the credit cards, business cards, identification and loyalty cards.  Thus, if what you must transfer is slim and easy, then life gets good and easy.  And thus you have the wallet for women concept.

​Unique womens wallets are out there, Narwhal's wallets, all of them, fit the need, but our Tie-Fold wallet is the most popular with women for all the right reason.  They're small, portable and unique, it's a one-of-a-kind wallet that's easy to show and talk about.

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