Data retrieval from REST web service take a long time. Alternatives?

Currently I am retrieving data from Rest web service in XML format. I am using this data in form drop downs:
1. Calculate count of records in XML
2. Parsing with XPATH XML for every count and populate Text variables for display labels and values.
The problem is, it takes a long time for data processing and variables population. What is a better approach to do the same.

OriginalPostID-148309

OriginalPostID-148309

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