Retailers are in a race for the customer. If they are not growing, acquiring new customers and generating higher incomes over an extended period they are going backwards. They are fighting for share from current and new competitors, in current and new markets and through current and new devices. Through all this, it is tempting to think that conversion is the goal and that a converted customer is a success. But there are two issues to consider here. Firstly, are we really happy with conversion at 2-3%? And more importantly, are....