Yes, and with a direct impact on sales. When a consumer asks ChatGPT "what is the best [product] for [need]", the AI lists options with justifications. If your product is on that list, you earn a recommendation worth more than many paid ads, because it carries the AI's perceived authority.
For e-commerce, GEO works best when the product has quality content attached to it: detailed reviews, comparisons, buying guides, complete technical specifications. Bare product pages, with nothing but a photo and a price, are rarely cited. A well-implemented Product schema is also essential.
The most effective strategy combines editorial content (a blog with buying guides, comparisons, lists) with optimized product pages (Product schema, reviews, specifications). The articles build authority on the topic, and the product pages capture the conversion when the AI recommends you.