It doesn't really. It's just marketed best. The trick to the Speedo LZR is that it is a compression suit covered with a fabric that has an extremely low drag. And it does work. The re-writing of so many records in such a short time isn't a concidence. The suit compresses the body across critical areas. This compression serves to damp muscle oscillation. And the surface of the suit is covered with low friction material. There is a lot of "hi tech" development behind the LZR Racer (laser racer). It's fluid dynamics meets physiology. There is a clear, though not overwhelming advantage to the suit. It creates a performance increase of only a few percent, but it's enough to make a difference. Interestingly, it doesn't help the best swimmers as much as it helps those of lesser rank. But it is impacting events, and will continue to do so - until the next innovation.
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Because of the type of fabric they use to make the lzr, the water slicks off the suit, increasing the hydronamic propulsion of the swimmer. It actually was banned by the Olympic Committee, claiming that it had cut down the times of some swimmers
Some designs of suit (used by Olympic athletes) are made to reduce friction in the water. They do not MAKE you go faster, they allow you to.
Most normal suits would not have this effect.