Can my e-commerce website feature special offers like ‘buy one get one free’ or ‘3 for 2’, ‘Half price’.

Yes, it is possible to set up various special offers. There are several basic discount options. More sophisticated special offers such as buy one get one free, 3 for £10, 3 for 2, buy one get one half price will require the use of a plugin which will incur a licence fee and implementation costs.
WooCommerce Frequently Asked Questions