Yes, it can
* If you sell related items, many people will click on the icon (next to your user ID) and take a look what else you sell.
* You can also insert links (graphical banners for example) in every listing driving traffic to your Shop.
* If done properly, you can also attract search engine visitors via Google for example.
Also, an eBay Shop can help you with Branding strategy, increase average order size etc.