More Than a Handbag by Makayla

More Than a Handbag by Makayla - October 2026 Scholarship Essay

Every girl's dream is to own a handbag. Or at least, it's mine.

Not just any handbag, either. A handbag is a reflection of who you are and who you aspire to be. Will it be a structured satchel? A baguette bag? Maybe a fold over clutch if you're feeling fancy.

A tote bag for the college student who claims she doesn't care what she carries, despite spending hours scrolling through Depop and Urban Outfitters searching for the perfect bag that can fit all her textbooks while somehow maintaining that effortless, chic aesthetic.

A messenger bag for the corporate "baddie" who needs something as tailored as her blazers and powerful enough to hold the fifteen million papers constantly spilling out of it.
Or maybe, just maybe, a sleek clutch for the going-out girl who only needs the essentials: lip liner, lip gloss, earbuds, and a single stick of gum.

Growing up, I never questioned why a handbag could hold so much meaning. I simply accepted that certain bags were desirable. But as I became more interested in both fashion and economics, I started asking a different question: Why are people willing to spend thousands of dollars on a handbag that performs the same basic function as one that costs fifty? I mean, why would someone spend thousands, sometimes even hundreds of thousands, on a Birkin? After all, a Birkin still carries your keys, wallet, and lip gloss just like any other bag. So why would someone pay the price of a car, or even a house, for one? At that point, you might as well stitch an Hermès logo onto the slightly pen-stained purse you discovered at the bottom of a Goodwill bin. No judgment, by the way. Some of my best finds have come from those bins. As someone who proudly considers a Goodwill treasure hunt a competitive sport, I couldn't help but wonder what exactly consumers were paying for.

That question became the foundation of a research paper I wrote on the economics of luxury fashion. What began as curiosity about handbags evolved into an exploration of consumer behavior, branding, scarcity, and the surprising ways value is created in modern markets.

When I first started researching, I assumed the answer was simple: luxury handbags cost more because they are made with better materials and superior craftsmanship. While those factors certainly play a role, I quickly learned they only explain part of the story. The deeper I researched, the more I realized that luxury brands are not merely selling leather, stitching, or hardware. They are selling something far less tangible: perception.

Through my research, I encountered economic concepts that completely changed the way I viewed the fashion industry. I learned about scarcity and how luxury brands deliberately limit supply to increase demand. I discovered the concept of Veblen goods, products whose desirability can actually increase as their prices rise. Most surprisingly, I learned that consumers often purchase luxury goods not only for their functionality but also for the social and emotional value attached to them.

The most fascinating realization was that luxury brands are not really selling handbags. They are selling belonging, aspiration, and identity. The handbag is simply the vessel.

As I analyzed case studies from major luxury houses, I began to understand why a Birkin could command a waitlist years long and a price equivalent to a car or even a home. Consumers were not paying solely for a product; they were paying for exclusivity, status, heritage, and the story associated with the brand. What I had originally viewed as irrational consumer behavior became a compelling example of economics in action.

The project also transformed my understanding of economics itself. Before writing the paper, economics felt largely theoretical, confined to graphs, models, and classroom discussions. Through this research, I saw how economic principles explain real-world decisions that people make every day. Suddenly, concepts like supply and demand, consumer preferences, and market signaling were no longer abstract ideas. They were shaping industries, influencing culture, and even determining the contents of someone's closet.

More importantly, the project helped me recognize how deeply connected my interests in economics and fashion truly are. For years, I viewed them as separate passions. Fashion was creative and expressive, while economics was analytical and data-driven. This research showed me that the two are inseparable. Behind every trend, product launch, and luxury purchase lies a network of economic decisions that influence consumer behavior and shape entire markets.

What began as a simple question about handbags ultimately deepened my understanding of economics and reinforced my academic goals. It taught me that curiosity often starts with something small and familiar before leading to much larger discoveries. More than anything, the project showed me that the subjects I am most passionate about are the ones that challenge me to look beyond the surface, ask better questions, and understand the forces that shape the world around me.