I get asked that question often and I wanted to answer it as best as possible on here. Conversion rate is one of the most valuable metrics when evaluating the performance of your website. If you have a conversion rate of <1% you should definitely evaluate the following segments
Poor user experience is something very common, especially when you are using a template that was not optimized for mobile. Go through your purchase journey from Homepage to Product Page, Cart, and checkout and be critical.
Marketing and incoming traffic:
Are you advertising to the right audience?
Pushing the wrong traffic that is not interested in buying your product will dilute your conversion. Make sure you analyze conversion per channel to discover your winner/loser.
People more than ever don’t want to wait… If your website takes too long to open, the user will move on.
Reviewing your apps and your image size is a good first step and can make a considerable difference. Applying lazyload and prioritizing scripts would be a second step, where most likely you will need an expert’s support.