More and more large retailers have gradually formed the buyer power in the process of dealing with the product suppliers by virtue of their scale and brand advantages. In the traditional view, in the retailer led supply chain, it is easy for large retailers to take advantage of the buyer’s power in the procurement activities and produce higher procurement performance. Recent studies have pointed out that the influence of buyer power on the performance of retailers is complex, and the improvement of economic efficiency depends on the relationship quality of suppliers and retailers. In this study, relationship quality of suppliers and retailers is used as an intermediary variable, and the Bootstrap method is used to empirically test the influence mechanism of retailers’ buyer power on procurement performance. The mediating effect test results show that the retailer’s buyer power does not directly affect the procurement performance. Retailers’ buyer power positively influences the relationship quality of suppliers and retailers. The relationship quality has significant positive impact on retailers’ procurement performance. The relationship quality has played a full intermediary role between retailers’ buyer power and procurement performance.