My experience
I don’t know about long-term but short term I see lot of changes and still cant imagine long-term affects of these short term changes.
I was supposed to get married this summer and my 5 other friends as well.We all postponed,Now everyone thinking of getting married somewhere around Nov-Dec if things get better by the time, we(Indians) spend in lakhs-Crs for these Occasions if we stopped spending for 5-6 months a lot of people will be out of jobs like photographers(were getting paid heftily) and so many other people.
Yesterday I was watching Kabir Khan interview he is thinking of postponing his movie to somewhere Aug-Sept here also a lot of people will get affected if big events don’t happen money wont circulate.
I’m not sure if the people who are in these professions be idle for this long and will do the same again or there will be some structural changes.
I see lot of demand will be on pause for next coming months.