The two items currently for sale are a Kaibab Cur pet and a pair of brass goggles. The Cur is one of the new pets in the game -- in this case, a four-slot-carrying dog -- while the goggles give lowbie characters a hand up with protective stats while making your avatar look like a mad scientist. Interestingly enough, Icarus is limiting players' purchases of each item to one per account.
You can scope out the goods at the Fallen Earth store on the official site. We'll certainly be keeping an eye on Icarus to see how the store develops and how players react. Although considering that Fallen Earth takes place in a post-paper currency economy, one wonders if Icarus Studios would accept poker chips instead.
[Update: The Fallen Earth team has responded to player concerns with this item store. Their statement can be found after the jump.]