A retractable razor assembly includes a foldable blade support for mounting a razor blade or cartridge, and a mounting assembly connected to the blade support that can extend and retract the blade support from a handle and can stabilize the foldable blade support when extended. The adjustment assembly, when extended from the handle, remains substantially stationary to promote stability of the blade or cartridge, and to thereby promote comfort and safety during use of the razor assembly. A packaging system for containing and for displaying operation of the retractable razor includes at least a portion that provides visual inspection of the razor assembly. The packaging system further enables a consumer to physically interact with the razor assembly while contained therein. The packaging system permits a consumer to actuate the adjustment assembly to display its extension and retraction, and to provide a demonstration of the different operating states of the razor assembly.