JSON is quite verbose. Verbosity is great when you need to interact with your data. Everything comes as clear text and is as easy to read as plain Python dictionary and lists.
But sending HTTP requests and responses with JSON payloads can add some bandwidth overhead in the long run. Serializing and deserializing data from Python objects to JSON structures also adds a bit of CPU overhead.
You can reduce the size of data transfers and speed up processing times using compression or switching to binary payloads.