The short answer
They are not competing. Olay Regenerist Collagen Peptide 24 at $29.99 is a peptide cream for fine lines. LANEIGE Water Bank Blue Hyaluronic Cream at $56.98 is a hydrator for skin that drinks and stays thirsty.
Buy the Olay if your complaint is lines. Buy the LANEIGE if your complaint is tightness. If you genuinely have both, the Olay is the one I'd start with, and it's $26.99 cheaper.
These get shelved together because they're both mid-price face creams, and that's where the similarity ends. Sorting out which problem you actually have is worth more than either product.
Olay Regenerist Collagen Peptide 24, $29.99
Peptides and niacinamide, fragrance-free, and it works on fine lines over weeks rather than overnight. At $29.99 it undercuts nearly every peptide cream in the category, which is the real story here.
It's thicker than it looks and needs a minute to sink in. If you're applying makeup straight after, give it that minute or you'll be annoyed.
Fragrance-free matters more than people credit. If your skin reacts to things, fragrance is the most common culprit, and removing it from the equation is worth doing before you spend more.
LANEIGE Water Bank Blue Hyaluronic Cream, $56.98
A blue hyaluronic gel-cream that sits light but holds water through the day. That combination is genuinely hard to formulate, and it's why this suits dehydrated skin better than a heavy balm does — a balm seals, this one supplies.
Dehydrated is not the same as dry. Dry skin lacks oil; dehydrated skin lacks water, and can be oily at the same time. If your face is shiny by noon and still feels tight, this is aimed at you.
One practical annoyance: it's a tub, not a pump. Clean hands every time, or you're inoculating your moisturiser twice a day.
Side by side
| Olay Regenerist Collagen | LANEIGE Water Bank | |
|---|---|---|
| Price today | $29.99 | $56.98 |
| Amazon AU rating | 4.6 / 5 | 4.4 / 5 |
| Solves | Fine lines | Dehydration |
| Texture | Thick cream | Light gel-cream |
| Fragrance | None | Yes |
| Annoyance | Slow to sink in | Tub, not a pump |
What the $26.99 is actually for
Texture and finish, mostly. The LANEIGE feels better to use and disappears faster under makeup. The Olay does more measurable work on lines for less money and asks you to wait a minute.
If that sounds like I'm steering you to the cheaper one, I am. 4.6 / 5 against 4.4 / 5 on Amazon Australia, $26.99 less, and fragrance-free. On the evidence, the more expensive cream has to be solving a specific problem to justify itself, and dehydration is that problem — but only if you actually have it.
Buy both?
Only if you'll use them at different times: the gel-cream in the morning under sunscreen, the peptide cream at night. Layering both morning and night is more product than any face needs, and you'll finish neither.
The rest of the beauty picks, with today's prices, are on the beauty page.