Free Shipping Friday has come around for the third year in a row and this time a record number of merchants are participating.

1,754 stores and online websites have agreed to take part in the event for 2010. Top retailers such as Best Buy, Toys-R-Us, Sears and Macy’s are joining in on Free Shipping Friday.

The purpose of Free Shipping Day is to offer free shipping on some or all of a customer’s purchases between midnight Friday and midnight Saturday. The shipping also must be guaranteed to arrive by Christmas Eve.

The online shopping day is joining the ranks of Black Friday and Cyber Monday in its popularity with shoppers.

Many of the merchants are offering the free shipping without any minimum purchase requirements. However, some do have specific requirements that must be met prior to qualifying for the free shipping offer.