If you have a sharp increase in 404, page-not-found errors this can massively impact your business's organic SEO in a negative way.
It can also make shoppers annoyed that they can't get to the page where they want to buy that product.
We had this problem with a business that sells garden buildings, and it damaged the company's organic Seo.
thats because they had so many 404 errors, we fixed the on-page seo, and then the organic and local seo improved.