The execution of augmented reality (AR) has become a new method for companies to create a favorable shopping experience. This study investigates consumer-based brand equity (CBBE) in the mobile AR context, especially regarding high- vs. low-innovativeness consumers. We identify three key attributes to signify AR's embedding and embodiment experience—perceived augmentation, simulated physical control, and response time—and confirm their positive influences on overall brand equity through cognitive, affective, and sensory brand association dimensions. The findings also demonstrate that consumer innovativeness moderates the influences of these AR attributes on brand associations. The study provides valuable implications for researchers and managers.