The victim was walking along Wood Road on Friday, pushing a trolley with her bag inside towards Tettenhall High Street.
She noticed a white car parked half on the road and half on the pavement.
A woman, aged about 35 to 40 standing next to the vehicle asked the victim for directions to a location in Telford.
Afterwards the victim noticed her handbag had gone.
It is thought to have happened some time between 11am and 1.25pm.
Neighbourhood policing officer Nicola Rance said: "This is a despicable crime committed and we are keen for anybody to get in contact with us with any CCTV or dash cam footage of the incident."
Call police on 101. Alternatively, contact Crimestoppers anonymously on 0800 555111 or at crimestoppers-uk.org