I agree with you that Remembrance Day should be a solemn day. It's on the same emotional plane as Good Friday or Yom Kippur or September 11th (which BTW, in the US is now officially designated as "Patriot's Day".)
Commercial co-opting of any Federal holiday in the US is so pervasive that we now customarily do NOT have regulated time off on any newly-designated day that is considered solemn, because when time off is given, American marketing firms immediately turn that into a shopping day.
One thing that you might not be aware of, however, is that the US does not designate Nov. 11th as a day to remember the Fallen. Our day for that is the last Monday in May, originally called Decoration Day (from the custom of laying wreaths on military graves), it's now called Memorial Day; though most of the solemn commemorations are held the preceding Sunday except for the official ones at Federal memorial sites. Remembrance Day was never observed in the US; from the start the Americans called it Armistice Day (to celebrate peace), but in the 1970s changed it to Veteran's Day, which is now a day of thanks for the service of *living* military veterans.