Released by SM Entertainment on November 17, 2017, the record incorporates R&B, soul and hip-hop with influences from future bass, trap and synth-pop, and saw contributions from various songwriters and production teams.

[7] The group admitted to being unnerved by the success of their last single, "Red Flavor", as they were preparing for the album which the members participated in making through song selection.

[8] Despite their concerns about the drastic change from their previous comeback, member Wendy stated that she thought it was "good timing" for the album to be released before the year ended as it "can show the perfect Red Velvet performances and songs".

[9] In an interview with Idolator on January 16, 2018, American production team The Stereotypes revealed they had "a new one coming that's gonna be really cool" when asked about working with Red Velvet.

[11][12] "Bad Boy" was described as a song with a "sexy" or "girl crush" concept by South Korean news sites, which has never been done before by the group.

[13][14] On January 26, individual teasers of members Wendy and Joy were released through the group's official SNS accounts which were noted by Kang Seo-jung of Osen as having the vibe of a powerful "eonni".

The lyrics for Red Velvet's Korean version was written by Lee Seu-ran of Jam Factory paired with entirely new melodies by Deez, Ylva Dimberg and was produced by The Stereotypes.

[21][22] "My Second Date" was characterized as a mid-tempo pop track, composed by James Wong, Sidnie Tipton and Sophie Stern with lyrics by Jeon Gan-di.

[28] Mexican news site Milenio called the song's melody a mix of R&B and hip hop, and described its lyrics as the story of the beginning of a couple's relationship.

Composed by Kevin Charge, Phoebus Tassopoulus and Jessica Jean Pfeiffer, its lyrics were written by Lee Seu-ran of Jam Factory.

"Time to Love" is a mid-tempo R&B ballad composed by Ellen Berg Tollbom, Ming Ji-syeon and Lee Dong-hoon with lyrics written by Kim Eun-jung detailing excitement over a new relationship.

To further promote their comeback, the group held a showcase on November 16 which was hosted by label mate Taeyeon, where they discussed their album and performed the lead song, "Peek-a-Boo", live for the first time.

[39] The album's title track "Bad Boy" had what Annie Martin of UPI called a "sultry" music video that featured the members in various coordinating outfits, which include all-black ensembles and pink pajamas, while performing against a snowy backdrop.

[41] Red Velvet held a comeback showcase on January 29, 2018, the same day as the album's release, and was hosted by label mate Girls' Generation member Hyoyeon.

[50] Seon Mi-kyung of Osen considered the transition from their last song, "Red Flavor", to their "velvet" concept a bold move but felt that it showcased the group's growth as artists.

[51] Kukmin Ilbo complimented the songs on the album as "colorful and solid", and noted its visual references to classic B-grade movies.

[53] Kim Sang-hwa of Oh My Star praised Red Velvet's vocal performance and "future-oriented sound", and stated that the album is one of the most outstanding domestic music records released in the year.

[56] Chase McMullen of The 405 believed that too often than not, most of South Korea's popular girl groups were limited to two concepts, which are "cute" and "sexy" but "Red Velvet's only true interest appears to be dodging what's expected".

Lastly, he maintained that the members continue to challenge themselves, all the while crafting "irresistible pop that doesn't lose an ounce of sheen once the buzz wears off".

[58] Forbes stated that The Stereotypes' work on The Perfect Red Velvet "helped hone the girl group's lush contemporary R&B-meets-pop sound".