1) Do the backup of all your files and DB. Check the widgets and make sure that you know where every widget is placed because they could be messed up after the update.
2) If you made any changes in template files move then into child theme
3) Use FTP method to update theme. Remove royal/woocommerce folder from old copy before this to avoid the problem with the out of date files.
4) Go to Theme Options > activate theme using your purchase code. Skip setup wizard.
If you want we can help you with theme update, just do steps 1-2 and then reply back to this topic and provide FTP and Dashboard access to your site.
