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This article aims to investigate whether intermediaries reduce loss aversion in the context of a high‐involvement non‐frequently purchased hedonic product (tourism packages).

The study incorporates the reference‐dependent model into a multinomial logit model with random parameters, which controls for heterogeneity and allows representation of different correlation patterns between non‐independent alternatives.

Differentiated loss aversion is found: consumers buying high‐involvement non‐frequently purchased hedonic products are less loss averse when using an intermediary than when dealing with each provider separately and booking their services independently. This result can be taken as identifying consumer‐based added value provided by the intermediaries.

Knowing the effect of an increase in their prices is crucial for tourism collective brands (e.g. “sun and sea”, “inland”, “green destinations”, “World Heritage destinations”). This is especially applicable nowadays on account of the fact that many destinations have lowered prices to attract tourists (although, in the future, they will have to put prices back up to their normal levels). The negative effect of raising prices can be absorbed more easily via indirect channels when compared to individual providers, as the influence of loss aversion is lower for the former than the latter. The key implication is that intermediaries can – and should – add value in competition with direct e‐tailing.

Research on loss aversion in retailing has been prolific, exclusively focused on low‐involvement and frequently purchased products without distinguishing the direct or indirect character of the distribution channel. However, less is known about other types of products such as high‐involvement non‐frequently purchased hedonic products. This article focuses on the latter and analyzes different patterns of loss aversion in direct and indirect channels.

The aim of this study is to explore the contextual influences of packaging design and its cues on respondents' preferences.

To explore the contextuality of packaging cues, a multi-attribute valuation technique, conjoint analysis was used for two types of pharmaceutical products (painkiller and sore throat medicine) across seven countries. Data were collected among respondents (N = 461) from Finland, Ghana, Mongolia, Nigeria, Portuguese, South Africa and the USA.

Similarities and dissimilarities were observed between the product types and countries analysed in terms of the impact of packaging cues. The findings demonstrate the global and local nature of brand cues expressed in retail packaging.

The study implies that some cues may serve global markets, while some cues may need to be localised in order to meet the needs of local markets. Understanding these cues and their influences on consumers' brand preferences and choices at the point-of-purchases may enable companies to enter new markets, help them create sustainable and credible global brands.

The study contributes to the existing retail packaging literature and pharmaceutical branding literature by providing empirical evidence of the multidimensional aspects of sensory packaging cues. Second, it contributes by showing the contextual nature of retail packaging and its associated cues for OTC pharmaceuticals.