Making a new homepage

I like the gridmarket theme. However, I would like to build a site that has a more informal 'reception area'. So, a place where it shows some of the latest products, but also a couple of latest blogs, a twitter stream, a youtube video etc.

So, how can I preserve the product overview page that is the homepage of Gridmarket and what is the easiest way to build a new homepage that is a quick showcase with three to six lines of text from posts?