Prices on fall and winter merchandise will plummet 75 percent on Saturday, Feb. 5, as this community’s zaniest retail promotion coaxes die-hard bargain hunters out of bed, clad in flannel jammies, as they line up outside specialty shops as early as 5:30 a.m.

If you’re new to the community, you may think the Winter Hibernation Sale of Dowagiac’s Feb. 5 Ice Time Festival is a good time to pick up a new pair of pajamas.

Yet veteran shoppers of this wintertime event will be wearing just that — their nighttime pajamas — to chalk up additional savings.

The eighth-annual Winter Hibernation Sale lures shoppers to Dowagiac’s quaint downtown with the promise of cold cash, free pearls and other complimentary gifts that pre-dawn customers could receive.

Dowagiac’s Ice Time Festival has been profiled as one of the many creative ways communities across the nation celebrate the bone-chilling months of winter.

At the center of the event are the life-size sculptures carved by ice artisans throughout the day, and the professional ice-carving competition at 1 p.m. that awards cash prizes.

The hibernation sale is one of several auxiliary events of the festival hosted by the Greater Dowagiac Chamber of Commerce.

This year’s event was underwritten by Lyons Industries, Dowagiac Area Federal Credit Union, Dowsett Chiropractic Health Center, Kemner-Iott Agency of Cass County, Yazel and Clark Funeral Chapel, City’s Pure Ice, LADD, Leader Publications and Attorney Mark Herman.

“While the thought of sleepy-eyed shoppers may have some people shaking their heads in disbelief, perhaps it’s the free pearl earrings, awaiting pre-dawn shoppers at Vincent J. Jewelers, that will change their mind,” said Vickie Phillipson, program director of the Chamber of Commerce and Downtown Development Authority.

Store owner Jim Frazier, who served as Ice Time’s first chairman, will present a set of earrings to the first 10 customers who make a purchase.

Shoppers still in their PJs also save 50 percent storewide from 6:30 to 9.

“If you’re a little bashful,” Frazier said, “There’s no need to worry.  From 9 to 5 p.m. jewelry is 35 percent off, regardless of what you’re wearing.”

“Saturday’s retail event is a unique promotion that combines great values with fun, sassiness and some retail savviness to chase away our winter blues and sooth our spring fever,” Phillipson said.

Although most downtown specialty shops typically open Saturdays at 10 a.m., several stores plan to open their doors much earlier for the festival.

Gifts of appreciation will await customers who make a purchase of $25 or more at The Red Raven and at Iconik, where doors open at 8:30 a.m.

For owners Jessica Sherman and Brian Fisher, Ice Time also marks the store’s first anniversary in Dowagiac, after moving their business to Front Street from its previous location in downtown St. Joseph.

During the past year, Iconik has expanded its trendy and casual line of men’s and women’s apparel, adding home goods and antiques to its merchandise mix.

Susan Kazlauskas, who previously set the brisk pace for pre-dawn shoppers, will open The Marshall Shoppe at 7 a.m., as she hosts an early-bird one-hour mystery sale.

Customers from 7 to 9 a.m. also receive an additional 50 percentage off the sale prices of fall and winter.

“As the morning progresses, the percentage drops back to 40 percent at 9 a.m., and an hour later to 30,” Kazlauskas said.

Shoppers will also ring up winter savings at Oh My, which opens at 8 a.m.; Booth’s Country Florist, where items on its mega sale table are 75 percent off; at Shirley’s Flowers, where fall and winter is 75 percent off; and at Who Knew? Consignment, where winter clearance is 20 percent off.

In celebration of Ice Time, Frame of Mind Custom Framing and Art Gallery will host a book signing by Cheri Hallwood, the award-winning children’s author of “Winter’s First Snowflake.”

Designer and gallery owner Helen Moorman will give away framing gift certificates of up to $50, as well as a work of art and an item of jewelry from her gallery.

Imperial Furniture, located on M-51 South, plans to shed some light on this year’s festival, as it offers shoppers 40 percent off any one lamp, when they present the store coupon that appears in Ice Time’s brochure.

Those who work up an appetite can pull up a seat at Beeson Street Bar and Grill, a five-time winner of Ice Time’s professional chili cook-off.

The Beeson Street pub was also voted by Reader’s Choice as having the best burgers in town.

Wounded Minnow Saloon plans to treat its customers to an Ice Time lunch special, marking down the price of their second entrée, when they present the restaurant ad that appeared in Ice Time’s brochure.

“If you’’re still thinking of sleeping in on festival day, you may miss the opportunity to win $250 in cold cash,” Phillipson said.  “Ten of our Winter Hibernation Sale locations have teamed up with the festival to present that day’s Ice Time Drawing.”

Imperial Furniture is co-hosting the in-store drawing along with these downtown sites:  Wounded Minnow Saloon, Who Knew? Consignment, Vincent J. Jewelers, Shirley’s Flowers, The Red Raven, Oh My, The Marshall Shoppe, Booth’s Country Florist and Gifts and Beeson Street Bar and Grill.