The single was certified gold by the Recording Industry Association of America (RIAA), for shipments of 500,000 copies in the United States.

[5] The song is a romantic,[6] elegant slow jam,[7] with lush strings, lavish vocal harmonies,[6] moody violin,[8] and a long instrumental break.

[9] Musically, the group wanted to create a feeling similar to Isaac Hayes' 1969 song "By the Time I Get to Phoenix".

"[10] Molly Reed of The Times-Picayune views that the lyrics' "pure sentiment" evokes "the 'sugar pie, honey bun' days of Motown soul", citing the line "I've only made plans / to hold your little hand / It's our anniversary".

[13] Its music video was released in October and featured the group in attire associated with English Romanticism and dandyism, including Dolce & Gabbana velvet vests, pin-striped jackets, lace bows, and cuffed shirts.

"[21] Elysa Gardner of Vibe wrote that "Sons of Soul climaxes, so to speak, with [the song]", saying the romantic slow jam has elements of bolero and lyrics bestowing warmth and respect upon its female subject.

[23] In 1994, "Anniversary" was nominated for Grammy Awards for Best R&B Song and Best R&B Performance by a Duo or Group with Vocals.

[26] An instrumental version of the song was covered by jazz saxophonist Gerald Albright on his 1994 album, Smooth.