Tuesday, Nov. 11 marks the annual Veterans Day holiday and while banks and post offices will be closed on the day, restaurants, grocery stores and retail chains will largely remain open. Some restaurants are even offering deals and discounts for veterans to celebrate.

The celebration of Veterans Day, a federal holiday, dates back to Nov. 11, 1918, when "temporary cessation of hostilities," or an armistice, between the Allied nations and Germany went into effect on the eleventh hour of the eleventh day of the eleventh month, according to the U.S. Department of Veterans Affairs.

"For that reason, November 11, 1918, is generally regarded as the end of 'the war to end all wars,'" according to the government agency's website. Veterans Day continues to be observed on Nov. 11, regardless of what day of the week on which it falls.

When Armistice Day became a federal holiday in 1938, many states had already begun observing it. In 1954, Congress, with the support of veterans organizations, changed the name of the holiday to Veterans Day; President Eisenhower signed the legislation on June 1, 1954, according to History.com.

The purpose of the day is to be a "celebration to honor America's veterans for their patriotism, love of country, and willingness to serve and sacrifice for the common good," the Department of Veterans Affairs says on its website.