The issue of saturation in U.S. retail markets is examined by investigating the perspectives and opinions of "experts" in the industry. A survey was administered to a sample of research analysts who worked for retail firms, developers, consulting companies, and investment institutions. Respondents were asked to define retail saturation and to indicate if the condition exists today in U.S. markets. They also were asked to identify the indicators of saturation and to select the single best measurement for use in determining the relative levels of retail saturation across geographic markets. A majority of respondents indicated that saturation was a prevalent condition in U.S. markets, but answers often included qualifiers or cautions. Measures of retail floorspace productivity, retail provision, and real estate market conditions were identified as indicators of saturation. Sales per square foot and square feet per capita were the most frequently cited measures to assess relative levels of saturation across geographic markets.