"It says 'Look at me! I'm so rich I can drop hundreds of dollars on an accessory, and I don't have to bother myself with trivial details like carrying grocery bags, so I don't have to keep both my hands free.'"

Yep, pretty much. Of course, I don't even carry a purse at all, so I *really* don't see the point. :) (I don't get spending that much money on any "status symbol," though. If it's pretty and worth it to you, that's one thing, but just to prove you had [and "had" is the operative word here] the money, why bother?)