Purpose This study aims to examine consumer purchase behavior towards E-pharmacy from a consumption value perspective. For this purpose, the influence of consumption values on consumer purchase intention is evaluated. Further, the role of consumer involvement in online purchase setup in the context of E-pharmacy is observed using moderation analysis. Design/methodology/approach The study used a cross-sectional survey design, wherein the respondents in the Delhi-National Capital Region of India were approached using a purposive sampling method. Responses received through the structured questionnaire were subjected to analysis using Smart PLS Version 4.0.9.6. Findings Results indicate a significant influence of functional (partial), emotional, social and conditional values on consumers’ purchase intention. Moreover, the moderation effect of consumer online involvement is seen in functional value (partial) and emotional value–purchase intention relationships. Research limitations/implications This study reinforces the use of the consumption value perspective to explain consumer purchase behavior toward information system (IS)-based platforms such as E-pharmacy. Some of the results, in this context, that did not establish significant relationships between a given form of consumption values and purchase intention, open up the possibilities of retesting the said relationships in the future. The researchers would realize the benefit of such examinations, as the E-pharmacy sector further evolves and matures in the future. Further, the successful establishment of a significant moderating role of consumer online involvement in certain consumption value-purchase intention relationships such as safety, perceived convenience and comfort value paves the way for future researchers to explore consumer online involvement for a similar role in IS research. Practical implications This study provides cues for E-pharmacy marketers to focus on enhancing product safety, usage comfort, users’ social image and awareness toward health consciousness that will help build purchase intention and assist in overcoming the challenges in the long run. It further suggests that marketers should have a strong re-look at forming price value perceptions and they must enhance the interactive features of the company’s mobile apps/websites with the help of the emerging artificial intelligence tools to re-orient the epistemic value and perceived convenience value toward E-pharmacy services. Furthermore, this study recommends following digital marketing practices to increase consumer online involvement, which would help strengthen perceived convenience formation that would otherwise be difficult to attain for E-pharmacy consumers. Originality/value This study provides novel insight into consumer purchase intention evaluation through the consumption value perspective in an emerging E-pharmacy market. The consumption value frame of reference helps to understand consumers’ buying rationale that affects their buying behavior beyond the initial adoption. Further, the moderation analysis of consumer online involvement provides an additional dimension to understanding consumer buying behavior concerning E-pharmacy.