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yes, it will work,

you need to specify direct url to image in each listing in your xls/csv file using comma (if more than one image)

the plugin allows to import only listings in xls format

zip archive size depends on the php setting upload_max_filesize
which you can increase if necessary

Hello,

if your xls file contains listings you can import it via "XLS/CSV Import/Export" plugin

otherwise, it will require to migrate database tables and files according to this guide applying...