WordPress performance usually improves fastest when you address a few large factors: page caching, optimized images, a sensible plugin set and enough server resources for the site.
What to consider
Use modern image formats and avoid serving images much larger than their displayed size. Review plugins regularly, because overlapping optimization or security plugins can create unnecessary work on every request.
For high-traffic or WooCommerce sites, database performance and object caching can become important. Monitor real resource usage before deciding whether to move to a larger hosting or VPS plan.