WooCommerce is a heavy script, it makes many queries to the database. A cache plugin will reduce the number of queries because the pages will be pre-generated as html.
Check the available cache plugins here https://wordpress.org/plugins/search/cache/
One of the most powerful optimization plugins is W3 Total Cache. But you can use another one like WP Rocket, WP Optimize, Hummingbird, etc.
LiteSpeed Cache is recommended only if your web server is Open Litespeed. Otherwise, use one of the other solutions. It depends on your expertise, it’s something you will be using regularly.
CSS and JS optimization
It’s recommended to minify JS and CSS files. Most optimization plugins have the option to to minify those assets.
defer the JS files so that they don’t block the initial page load.
You can also try merging the CSS and JS files. Usually there’s no problem in merging all stylesheeets.
However, merging JS files may cause some errors. Test carefully before using this feature for your live site.
If you found any errors disable and stick to minify and defer only. Check your plugin documentation.
You must optimize your images preferably using .webp format.
One free plugin is EWWW Image Optimizer. But there are other great options on the repository https://wordpress.org/plugins/search/webp/
Some plugins also offer Lazy Load, if you enable the lazy load option from your plugin disable the theme Lazy Load to avoid conflicts. Go to Appearance > Customize > General > General Settings and disable Use Lazy Load
There’s a bug when the image size or aspect ratio is change in Appearance > Customize > WooCommerce > Product Images. Check this article https://goya.everthemes.com/help-center/product-thumbnail-size-bug/
Use a CDN
Use a CDN to store your static assets. Those assets will be delivered from fast servers around the world without consuming more resources from your own web server.
If you don’t have a custom CDN you can try with Cloudflare free or Jetpack.
The cache plugin will help, but the server response time has to do with your server resources. On shared hosting WooCommerce is usually slow.
Use good quality WordPress hosting or a VPS.
Uninstall all unused plugins
The number of plugins affect the site performance, keep only the plugins you really need.
Deactivate or uninstall unnecessary plugins. For example, Slider Revolution always loads its assets even if you don’t use it on the frontend. If you are using the WP Bakery Banner Slider then uninstall Slider Revolution.
Keep active the following plugins because they are required: Goya Core, Meta box and Kirki
The default plugin WC Ajax Product Filters is very simple to use but it’s not suitable for large catalogs because the queries are not cached. If you have more products and terms (categories, attributes, etc) we recommend to switch to HUSKY – Products Filter for WooCommerce.
HUSKY – Products Filter for WooCommerce PRO version is included in the full theme package that you can get from your Themeforest Account. See the basic configuration guide https://goya.everthemes.com/help-center/husky-products-filter/
Uninstall any other filter plugin to avoid conflicts. Uninstall the default WC Ajax Product Filter.
Displaying the color swatches on the shop/catalog pages is a resource intensive task. To speed up the process keep the stock status checker disabled Appearance > Customize > Shop > Variations/Swatches
Or you can disable the feature completely if you don’t need it.
Deregister unnecessary stylesheets
WooCommerce loads some stylesheets for blocks used with Gutenberg. If you are not using those blocks you can deregister the styles.
The same applies to other plugins. If you see that some stylesheets are unnecessary, deregister those files.
This is an example to deregister the WooCommerce blocks stylesheet:
Add the snippet to wp-content/themes/goya-child/functions.php
Analyze your site to find out if it’s possible to remove other unused styles.