Let me start by saying a 2 oz. bottle is supposed to last for "up to 2 months", but I have had this bottle since summer. I did not need it much then as my skin had a tendency to be oily. Now that I'm experiencing my first real winter in years, I'm glad I have this fantastic product. My skin has gotten so dry this winter; my cheeks and forehead have dry, flaky skin almost constantly. I apply this over my moisturizer in the morning and at bedtime. It is the only thing that has been helping with the dry, flaky skin. It has been doing a great job of keeping wrinkles at bay, but I don't think it was designed to reduce discoloration. Also, I really don't have discoloration, so I can't say whether it helps or not. It claims to make your skin "softer and smoother", and I will agree that, yes, it does. The ingredients are awesome - squalane. That's it. You can purchase this product with or without lavender oil, but that's all that is in it - squalane or squalane with lavender. Squalane is found in sebum (produced by your oil glands to keep your skin moist).