This setting will be the home of all advanced optimization settings in one place.
To access the Optimizations settings, click Customize (Themes section on Shopify) > click on Theme settings > Optimizations.
Use inline SVGs for lazyloading
Turning this on will reduce the amount of requests necessary by inlining a placeholder (lightgrey) SVG until the original image is loaded.
Enable native LazyLoading
Take advantage of native Lazyloading [loading="lazy"] in modern browsers. You lose the ability to have placeholders be shown, but you might gain performance points in modern browsers. Old browsers will use the built-in Booster LazyLoad script.