You can do a cron job and use the default woocommerce csv import feature without installing more plugins as it may slow down your site.
You will have to convert your Excel file to a CSV file.
More info about Cron:
Cron is a technical term used for commands to run on scheduled time or at regular intervals. Most web servers use it to maintain the server and run scheduled tasks.
WordPress comes with its own cron system which allows it to perform scheduled tasks. For example, checking for updates, deleting old comments from trash, etc.
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