WEST LAFAYETTE, Ind. -- A Purdue University retail expert says this should be a great Christmas shopping season for consumers, but retailers might not have that much to cheer about.

Richard Feinberg of the Purdue Research Institute said he thinks consumers are in for almost unprecedented bargains that will continue even beyond the holidays.

Feinberg said gas prices would likely limit the number of trips shoppers make to the mall.

"Retailers realize that fewer visits by consumers because of high gas prices mean they must offer bargains, sales and promotions designed to compel spending," he said.

Feinberg predicts receipts for retailers will be up by only about 2 to 4 percent from last year.

And if a cold snap brings high heating bills before Santa and his reindeer arrive, Feinberg said it could ruin the season for retailers.

In order to move merchandise, he said they will have to use deep discounts and other aggressive promotions that will cut into the bottom line.

Feinberg said the effect of home heating increases on consumer spending will be much greater than gas prices.

"While the 25 percent increase in gas prices costs the average family $10 per week, heating costs will increase $150 to $200 per month," Feinberg said. "And because consumers tend to pay for gas with credit cards, the increased price tends to be hidden. But most people write checks for heating costs, so those increases are much more apparent."

In a season of high energy costs and skittish consumers, Feinberg said big retailers will have an advantage.

"Wal-Mart can pressure vendors and manufacturers to sell them products at lower prices and, therefore, Wal-Mart maintains profit margins," he said. "Smaller retailers don't have that kind of leverage with suppliers, so this will translate into lower profits."

Feinberg said the squeeze on retailers also will affect the number of workers they hire on a seasonal basis.

"One way for retailers to attempt to maintain profitability is to control expenses. So there will be fewer seasonal employees hired this year, and those hired will work fewer hours," he said.

Feinberg said Internet retailers will have more to cheer about this holiday season.

Feinberg thinks online sales will hit $26 billion, a 22 percent increase from last year.

But Feinberg said Internet spending represents only 5 percent of the $435 billion that will be spent this year.