meaning of bargaining power of buyers

bargaining power of buyers meaning in Business Dictionary

An advantage to consumers that comes from collecting together to place collective pressure on manufacturers to lower costs or enhance quality. The negotiating power of buyers usually gets the best influence on pricing when purchasers tend to be arranged and so they collectively account for a lot of the producer's income, they've been enthusiastic about an item which has an excessive amount of suppliers, and they are contemplating making substantial purchases.