Advanced Night Recovery range is definitely a special one: it introduced a word "serum" into skincare vocabulary and got us accustomed to the idea of delivering potent active ingredients into our skin in a thin watery texture rather than in a thick cream. Well done for this one, Estée Lauder! When it comes to effectiveness, though, this product is not that advanced actually: it is a basic hyaluronic-acid based moisturizing serum. A very expensive one: it's $107 for 1.7 oz.
In addition to hyaluronic acid, it includes a few fermented moisturizing ingredients like Bifida Ferment Lysate. This extract consists of remains of dead yeast bacteria cells. It helps hydrate the skin and reduce irritation. It might also has some anti-oxidant effect, but we don't know if and how well it works for sure.
All-in-all, this iconic product is an excellent moisturizer, but there are equally as effective moisturizing serums on the market today for a fraction of a price. When it comes to the anti-aging promise, it is definitely overstated, don't get fooled by the name.
In terms of more budget-friendly alternatives, I love The Ordinary Hyaluronic Acid 2% + B5 ($7 for 1 oz.) , or Clinique Turnaround Accelerated Renewal Serum for a more advanced formula with PHAs ($47 for 1 oz.).