Please follow our documentation https://xstore.helpscoutdocs.com/article/63-theme-update
Don’t forget to create backup of your files and database before starting update process! Your theme options could be exported in a file (Theme Options > Import/Export > Options > Export Options) to be able to restore the site to the previous state if something goes wrong. Also, check the widgets and make sure that you know where every widget is placed because they could be messed up after the update.
Let us know if you need any assistance.