This article aims to address two aspects of lighting often treated intuitively by designers in charge of creating retail atmospheres, that is, the impact of color and light distribution, as design variables. The study comprised a controlled experiment with a repeated measure design with three directions of lighting (front, overhead, and wallwasher), as the within-subject factor and four color combinations of the walls (yellow-blue, magenta, gray, and green-magenta), as the between-group variable. The perceptual (visually) and emotional responses of 184 participants revealed the interplay between light and color on these psychological outcomes. Specifically, the results showed that the overhead direction of lighting improves the appearance of the less favored color conditions, either in terms of lack of visual complexity (monochromatic) or color itself (gray). In turn, the wallwasher lighting emphasized these attributes, differing according to visual or emotional aspects. In retailing, emotional dimensions such as activation and evaluation are desired, and they were confirmed across all the lighting and color conditions of this study. The results provide designers with certain perceptual cues regarding colors and their lighting mode to create desirable impressions and affect in retail spaces.