According to this website, there is a packmule merchant in the Traveler Camp. -->

https://dungeonsiege.fandom.com/wiki/Packmule

Where is he? I found two shop merchants and someone gave me a quest to kill a bandit, but no packmule merchant.
I am assuming the traveler camp is the gypsy camp right outside the crystal cave.

I could be wrong, but I don't believe the Gypsy camp has one. I stopped my recent playthough of the game a while back and haven't gotten back to it yet, but most towns should have a mule merchant. When I get back to my game drive tonight, I can check a save to see which is the first town.
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Ah ok, was thinking maybe you were near the beginning. If I stopped by the traveler's camp, I just don't recall it by that name or you may be ahead of me in my current playthrough. I did pass the gypsy camp though, not sure I went much further.

There are some inventory mods out there also. Unfortunately I don't know off hand if those require a new game or can be implemented during an existing game. I've used some mods that require a new game to work, while other mods could be added at any time.
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I believe that the travelers right before the Glitterdelve mines have a couple of pack mules.

Please note that I am playing with the Legend of Aranna version.

I see the confusion. One of the two suspicious characters before Glitterdelve does offer to sell a packmule. They may be travelers, but they are not Travelers. The "Travelers Camp", properly so called, comes a lot later, has more people, but no packmules for sale.

Yeah, it is officially called 'The Traveler's Camp'. But to me, I just think of it as 'The Gypsy Camp' It is the area right outside the Crystal Cave and right before the Dark Forest.

I remember that spot now before the mines. Reminded me of a couple of prospectors selling their wares, like something out of the old wild west era lol.
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More like gun-runners to an Injun uprising in Hollywood westerns.

The game does have, in one of its lore-books, that allusion to the historic Lewis-Clark exploration through the Rockies.

One play-through, I went with a farm-girl whom I called Thillian Kodee, so that after killing Scorch she would be aka "Dragon Dill".