Would stale content blog content negatively affect store rankings?

We have two main sections on our website - a blog and a store. In the past (2014-2018) we produced a lot of great content and were seeing about 200,000 unique visitors via search engines each month, however the blog now receives less than 40,000 and rankings have dropped from top spots to bottom of the first page or second page. The reason we stopped developing content is because it did not lead to shop conversions, even though it was thorough, well-researched, and well-written.

Could the deteriorating performance of our blog content contribute to ranking losses on the e-commerce side of things?