Initially, I didn't think it has much retinol as it works on my face well, i.e. no irritation, peeling, etc. I realized its effecacy after I applied on my necks for a few days then my neck started to show redness and itches. I stopped immediately. Now I apply it on my neck every now and then but every night on my face. I do feel a bit greasy though. I don't like panthol. I most likely won't repurchase it.