Hi there,
You can make speed improvements like you would a standard site by ensuring images are correctly sized & optimized, font variations are kept to minimum and by general optimization:
https://generatepress.com/fastest-wordpress-theme/
However, the main issue is Woocommerce is a server hog and for the best performance you would need to ask your host about dedicated woo servers that are designed to deal with its load.
I would begin by looking at the first options to see if improvements can be made before upgrading servers.