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Hi Vikram,
Although, both the specializations mentioned above offers a bright career opportunities but the most important thing which you should keep in mind while choosing your specialisation is your own interest and career aspirations. If you feel that you want to make your career in retail and are confident that you are not going to change your field then only you should go for MBA in Retail otherwise I would suggest you to go for Marketing which is one of the most traditional specialisation & has a much broader scope than retail. Marketing is a field evident in all possible sectors. IT, development, financial or creative; all require a marketing section to grow upon their ventures. So, it helps MBA students to get more placement options.
Hope this resolves your query. Feel free to put up more queries. In case your query is resolved please close this question by choosing it as a best answer or pressing the thumbs up icon.
Thanks,
Pooja