Extravagance is being usurped by nostalgia and sustainability in the luxury goods sector, Barclays Private Bank has claimed.

This is likely due to Covid-19, as a recent study published in the journal Frontiers found that nostalgia enhances well-being and feelings of social connection.

E-commerce traditionally accounted for only a fraction of watch and jewellery sales pre-pandemic, but now it is being bought extensively online.

This means that while sales of luxury go...