Most likely, yes. Look at your Google Analytics and find the percentage of tablet and mobile devices. In 2013 the average eCommerce site had 25%-30% mobile traffic; the average now is 45%-50% mobile traffic. An IBM report in 2015 stated that 46% of all eCommerce traffic took place on mobile devices. Tablets tend to have a higher conversion rate and higher AOV while mobile phones tend to have the higher percentage of browsing traffic. The same report stated that iOS (Apple) devices accounted for 17.1% of all online sales while the Android devices only accounted for 5.9% of all online sales.
Having an eCommerce site that is responsive and done well, including cart and checkout, will increase revenue. Many have rushed with economic solutions to make their sites responsive and instead have actually created a worse setting for their site. Either the site is slower on mobile than desktop or the ability to confirm cart, create account and checkout are broken, leaving shoppers with frustrations and a promise never to return.
In Q2 2015, Google started giving "preference" to responsive sites. There have been mixed studies on the degree of what this translates into for merchants with responsive sites, but this is definitive - Google prefers responsive sites...that are fast.
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