Enable caching: Utilize Magento's built-in caching mechanisms, such as Full Page Cache and Varnish, to speed up page loading times.
Optimize images: Compress images without compromising quality. Tools like Kraken.io or ImageMagick can help reduce image sizes.
Minify CSS and Javascript: Minimize the size of your CSS and JS files to reduce the amount of data transferred.
Upgrade to the latest version: Keep your Magento version up to date to benefit from performance improvements and bug fixes.
Use Content Delivery Networks (CDNs): CDNs can distribute content across multiple servers, reducing server load and improving page load times. Prestige Glenbrook
Optimize database: Regularly clean up unnecessary data, use database indexing, and consider database optimization tools.
Implement Lazy Loading: Load images and content as the user scrolls down the page, reducing initial page load time
Optimizing themes and plugins are also important. Themes can have a big effect on the performance of your site. Also, the performance is heavily dependant on your hosting. Choose a good Magento Hosting for the best performance of your site.