Consumer brands are adjusting to a two-tiered economy as the new normal. Yet there are signs that even high-income customers are under pressure.

The most common refrain so far this corporate earnings season is that the U.S. economy is increasingly divided between wealthy consumers and everyone else.

While many Americans tighten their belts amid rising costs and a weakening job market, a fortunate few are still spending freely, insulated by a financial cushion of stock market gains and years of rising home values.

The split is having an outsize impact on consumer-facing companies, but those effects aren’t being felt evenly across brands.

McDonald’s CEO Chris Kempczinski said the “two-tier economy” was a major factor in the fast-food giant’s decision to revive its “Extra Value Meal” combos last month.