When you get a ZIP file with the theme, then you can update it manually. Best way to update it is to use a plugin such as http://wordpress.org/extend/plugins/easy-theme-and-plugin-upgrades/.
This plugin will save a backup of your current theme, delete the current theme directory, and replace it with a new version.
If you want to update the theme with below method you will need this plugin installed and activated. Otherwise, the update will fail with an error “The destination directory already exists.”
Will I lose my data when updating the theme manually?
You will not lose your data while updating theme manually or automatically. Nothing is stored in the theme directory, so unless you made changes in theme files you are totally safe.
However, If you made changes in theme files then you should move them to Child theme instead to be safe.
Where can I find a new version of the theme?
The newest version is always available on ThemeForest. You can get it as described in the installation process.
Updating using “Easy Theme and Plugin Upgrades” plugin:
- Log into your WordPress site.
- Go to Appearance → Themes.
- Click the “Add New” button.
- Click the “Upload Theme” button.
- Select the zip file with the new theme version to install.
- Click “Install Now”.