There's no other shopping bonanza quite like Alibaba's Singles Day, which has once again smashed records.

The tech giant reported $17.8 billion in sales during this year's frenzy, breaking the record of $14.3 billion set in 2015. That's more than Black Friday and Cyber Monday combined.

Singles Day takes place each year on November 11. It started as an informal holiday celebrating those not in relationships, before tech giant Alibaba turned it into a product discount day in 2009. The multibillion dollar event includes products from thousands of international brands, all vying for the purchasing power of more than 100 million shoppers.

Celebrities appeared at a three-hour variety show leading up to the event's midnight start in the southern Chinese city of Shenzhen. David and Victoria Beckham got things started by hawking whiskey and sunglasses on stage. Twenty minutes later, a Mandopop boy band sang a song with the hook "I'll teach you to buy." An appearance by NBA star Kobe Bryant, an icon to Chinese basketball fans, was also a crowd pleaser. Alibaba founder Jack Ma even made an appearance, performing card tricks with Scarlett Johansson.

To celebrate the event's 10-year anniversary in 2019, Ma told CNN he wants to hold it in New York or Paris. He also predicted Singles Day would become a household name in the U.S. within 15 years.

In the first few hours, more than 80% of transactions took place on smartphones. The company rolled out virtual reality experiences and augmented reality games to keep shoppers' thumbs and eyeballs glued to the buy button.

Some companies use Singles Day to unveil products tailored for Chinese consumers. Smuckers peanut butter and jelly filled Oreos, anyone?