The wallets are getting smaller!

Whether it has anything to do with the way that the economies all over the world are performing or not, of late the new wallets in the market are not only slimmer but they are a whole lot smaller. I fail to understand what is the need for smaller wallets, as such the wallets that we all use are of the right size, but it seems that they want to turn this into a version of the micro versus the macro thing in the wallet market. Soon, we many run out of space to keep our cash and cards in, then why on earth would we need a wallet at all?