How to perform bulk delete and release free space?

Good Afternoon, We have a database that wasn't been an archive anytime. The database has grown tremendously and we are running short of space. Hence there is a need to do a bulk delete and free space. Based on my research, in order to free up space, I have 2 options: shrink DB or shrink files. The shrink DB is a bad option because it ruins the fragmentation. Can anyone guide me on how to perform a bulk delete and free space? Also, we are planning to implement this process on a monthly schedule job. Based on the discussion, I want to clarify 3 things: 1. Bulk Delete Without Locking The Table 2. Reclaim Free Space 3. Schedule Monthly Job Looking forward to expert opinion.