Simply put, buying power refers to the ability of a company to purchase goods and services at favourable prices.
Companies with high buying power can often negotiate better deals with suppliers due to their large purchasing volumes or because they are considered to be an important customer. This can give them a competitive advantage over companies with lower buying power. In some cases, companies may even form purchasing cooperatives or joint ventures to increase their buying power and gain access to better deals. The key to unlocking buying power is often leverage - if you can convince suppliers that you're an essential customer, they'll be more likely to play ball.