The growing phenomenon of consumer-generated content has become disruptive to online businesses, but many are studying the reviews, finding ways to use the content to their advantage, according to a new report released by JupiterResearch.

The research found 77 percent of online shoppers read consumer product reviews and ratings. Viewers were found to be increasingly loyal to the stores that featured product feedback. Another survey determined that 22 percent of online consumers who posted feedback on forums tend to purchase more online.

Content created through the voice of the consumer is reinventing advertising. "It's shifting the power away from Madison Avenue and into consumers' hands," said Neil Sequeira, principal at General Catalysts Partners, a one billion dollar early stage venture capital firm. "Users create content they are passionate about. If there's a surfboard you love, why not create some content around it."

And more sites are popping up to populate the fields. Launched late Sunday, Wiki.com joins a list of do-it-yourself sites like Jotspot and Wikia that allow anyone to add and edit content on a specific topic. Wiki.com CEO John Gotts said consumers can register for a sub-domain on the site, while granting permission to others either to add or edit content.

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