In an attempt to be a forethought on the shopping lists of parents this holiday season, Toys R Us has announced plans to match the prices of their competition. The company’s new “price-match guarantee” will be extended to all products from Toys R Us and Babies R Us retail outlets.

"Now through Christmas Eve, the company will match competitors' in-store pricing on identical items, anytime a customer presents a local competitor's current, valid print advertisement showing the item available for less," said Toys R Us representatives, earlier this week.

Customers will have the opportunity to take advantage of the price-matching offer up to seven days after making a purchase, which will allow shoppers the chance to sniff out a better deal and receive a “price adjustment” on their item.

In addition to the latest price-matching campaign, Toys R Us recently implemented a free layaway plan, as well as a new holiday reservation system that allows customers to reserve the "hot toys" of the holiday season.

The retailer hopes that by offering customers more shopping flexibility that it will be able to maintain a strong competitive presence this holiday shopping season against hard-hitting retail chains like Wal-Mart.

[CNN]