"Skin Trade" received positive reviews from contemporary critics upon its release, with some drawing comparisons to
Prince.
Cash Box praised Le Bon's "Prince like vocal" and Nile Rodgers' production calling the song, "the most compelling, funky moment of the band's
Notorious LP". William Shaw of
Smash Hits called the song "fairly magnificant" and praised Le Bon's performance. The single release was "Single of the Forthnight" in
Smash Hits, "Duran Duran are awesomely clever. Just when there are a rash of Duran Duran imitations nudging into the charts, they come up with a song that doesn't sound like the old Duran Duran at all, but sounds much, much better", Lola Borg wrote. "They've been taking lessons from Prince as this is seriously um... funky, and they sleaze and grind their way through some interesting, dodgy-sounding lyrics". Retrospectively, some have called it a mature standout in Duran Duran's discography.
AllMusic journalist Donald A. Guarisco wrote that, "Duran Duran's recording is fuelled by funky but gently layered guitar textures and subtle drum work that push its groove along, plus some atmospheric synth textures on the chorus. The result was a perfect blend of slow-dance textures and adult social critique." John Bergstrom of
PopMatters, despite criticizing the songwriting on the album lauded the song as, "arguably among the best Duran Duran have ever released, putting familiar appeals to fame and sexuality in a new, genuinely funky context."
The Guardian music journalist
Alexis Petridis ranked it as one of Duran Duran's greatest songs, writing: "Skin Trade sounds more impressive now than it did on release. It’s hard not to admire the boldness of the sonic shift; the sleazy ambience works." ==Commercial performance==