Trader Joe’s mini tote bags became the latest social media trend, with resellers taking the opportunity to charge a bit extra.
The two-colored canvas tote bags—a bit smaller than the chain’s regular totes—come in colors and cost $2.99 in-store.
However, after gaining popularity on social media and being bought off shelves completely in a couple of weeks, according to media reports, resellers found a way to charge more.
Resellers on eBay and Facebook Marketplace were charging from $20 each to $999 for a set of four.
Meanwhile, videos shared on social media show crowds of customers visiting Trader Joe’s stores hoping to get their hands on one of the highly-coveted mini totes. Beyond the checkout line, social media users have gained tens of thousands of views for sharing and customizing their bags with detailed paint, buttons, and embroidery designs.
“Our Mini Canvas Tote Bags certainly sold more quickly than we anticipated,” said Nakia Rohde, a spokesperson for Trader Joe’s. “Before we had the opportunity to promote them in any way, customers across the country found them at their neighborhood Trader Joe’s.”
While Trader Joe’s is no stranger to having its products go viral, the Monrovia, California-based grocery chain also said it does not condone the reselling of its products—with Ms. Rohde stressing that “our customers, in our stores, are our focus.”
Exclusivity and limited supply are always key factors impacting both prices and consumer behavior. Beyond the added influence of the internet, this type of popularity has been previously displayed for other products, ranging from the scarcity of Huy Fong Foods’ Sriracha sauce to empty toilet paper shelves seen at the start of the COVID-19 pandemic.
“We as humans seem to hoard things that social media makes us think is desirable or important,” Jay Zagorsky, a clinical associate professor at Boston University’s Questrom School of Business said. He added that such bulk buying—whether it’s Trader Joe’s mini totes or COVID-era toilet paper—can also help consumers feel more secure, as future availability may be uncertain.
Of course, Trader Joe’s mini totes aren’t the first to become a viral sensation. Stanley cups, for example, similarly skyrocketed to online fame this year, with demand for the tumblers causing chaos at retailers nationwide. Limited-edition Stanley cups have also been priced up by third-party sellers.
The mini totes have sold out in stores across the country, but shoppers can expect to see them return. “We do have more Trader Joe’s Mini Canvas Tote Bags coming,” Ms. Rohde said. “Customers can expect to see them in our stores in late summer.”
The Associated Press contributed to this report.
