market place vs retail store

market place and retail store both are nouns.

Word	Noun	Adjective	Verb	Adverb
market place	Yes	No	No	No
retail store	Yes	No	No	No

As nouns, retail store is a hypernym of market place; that is, retail store is a word with a broader meaning than market place:

market place: an area in a town where a public mercantile establishment is set up
retail store: a place of business for retailing goods

Other hypernyms of market place include mercantile establishment, outlet, sales outlet.

market place (noun)	retail store (noun)
the world of commercial activity where goods and services are bought and sold	a place of business for retailing goods
an area in a town where a public mercantile establishment is set up