The Velvet

While promoting The Red at a press conference on September 8, 2015, the members and the company hinted at a similar follow-up concept release to their previous release, although an S.M. Entertainment representative clarified that nothing had been scheduled yet.[4][5] In October 2015, Wendy confirmed on an interview that an album was "coming after The Red", seemingly clarified that a similar concept album was in the process.[6]

On March 2, 2016, an S.M. Entertainment representative revealed that the group had completed filming a music video for the album's title track.[7] S.M. Entertainment began dropping teasers of the members on the group's official Instagram account on March 10 and later confirmed a March 16 release date and the title track "7월7일 (One of These Nights)". The single is described as an R&B ballad with a polished rhythm.[8]

Red Velvet held a special broadcast through the Naver app V on March 15, showing their new hairstyles for the first time as they talked about their preparations for their 'comeback'.[15] After the announcement of their album's delay, the group appeared on the March 16 broadcast of 'Good Morning FM' to talk about the album and the title track, "7월7일 (One of These Nights)". The group also held another special broadcast on the V app hours before the album's release. Red Velvet started their promotions on music shows through M! Countdown where they performed both the title track and a shortened version of "Cool Hot Sweet Love".[16]

Red Velvet won their first music show trophy for the song on March 22 on The Show.[17]

Professional ratings

Review scores
Source	Rating
IZM	[18]
The Star	7/10[19]

Billboard writer Tamar Herman praised the title track as "the group's most expressive vocal performances to date" and "no less captivating" than their previous single "Dumb Dumb".[13] The Star's Chester Chin praised the album's "languorous build-up", adding that One of These Nights' "indie sensibilities" is an "assured step in the right direction" for the girl group.[20] A mixed review from writer Jeong Min-jae found the extended play to be "lukewarm" and "particularly shabby" compared to their previous release, citing "Cool Hot Sweet Love" and "Rose Scent Breeze" as the stand-out tracks nonetheless.[21] In a separated top 25 Red Velvet songs by Billboard, "Light Me Up" was included at number 17 as the song "displays how effortlessly the group can slip into, and conquer, velvety R&B".

On the week of March 19, 2016, The Velvet debuted and topped the weekly Gaon Album Chart for one week, becoming the group's third consecutive chart-topper.[22] Except for the three remixes of "One of These Nights", all five original tracks also charted on the Gaon Digital Chart in the same week. With 48,866 copies sold, The Velvet was the 60th best-selling album in 2016 on the year-end Gaon Album Chart, and has since sold more than 80,000 copies as of September 2022.[23] The extended play also performed moderately on Billboard's World Albums Chart, peaking at number eight on the week of April 2, 2016.[24] Elsewhere, the album also debuted and peaked at No. 75 on the Japanese Oricon Albums Chart, earning a total sales of over 2,100 copies.