The present invention provides, in at least one embodiment, a basket such as a grocery basket or laundry basket, where the basket includes a packaging wrap strap. When the basket is in an open position, the wrap strap is flush to the bottom side of the base of the basket such that it is out of the way. When the basket is in a closed position, the wrap strap, made from elastic, stretches to get around the base of the basket and pulls the base upwards while applying downward force on a rim of the basket to keep the basket closed very flat. The wrap strap advantageously does not interfere with the closing and opening functions, improves storage and carrying, and provides better packaging.