Can UpdraftPlus be used to migrate a WooCommerce site?

Yes!

WooCommerce is a well-behaved WordPress plugin that stores its database information in the WordPress database, and stores any uploaded files in the WordPress media library. As such, it does not present any special issues or challenges when migrating.

By the way – updraftplus.com itself uses WooCommerce; we’ve even developed a few WooCommerce plugins of our own, which you can see here.