CHICAGO — Move over cheddar cheese and summer sausage, make room under the Christmas tree for caviar and filet mignon.

Americans are giving gourmet gifts for Christmas each year as the number of retailers selling high-priced specialty food booms.

Even discounters such as Melville Corp.'s Marshall's and Wal-Mart Stores Inc.'s Sam's Club are clearing floor space and sending out catalogues to cater to the rising demand for wholesome and exotic foods this season.

The trend does not point to a return to the days of power-eating in the '80s, experts said. Americans actually remain rather thrifty despite this year's healthier economy and strong job growth.

If consumers are pampering themselves these days, they're doing it in the kitchen, dining room or TV room. The explosion of home buying--spurred by low interest rates--has many shoppers focused on the nest, and giving gifts to be enjoyed at home is very popular this Christmas season.

"You can get somebody a really wonderful collection of fruit preserves or relishes, and they're never the wrong size or the wrong color," said Justin Rashid, founder of Petoskey, Mich.,-based American Spoon Foods Inc.

American Spoon Foods, a retailer and catalogue marketer, is just one of the many home-grown food companies feeding off the gourmet gift trend. Its products, from jellies, gourmet mushrooms, hearty soups and relishes, are mostly made with edibles grown in Northern Michigan.

The company, which Rashid started 12 years ago with New York chef and restaurant owner Larry Forgione, had its busiest day ever at its catalogue operation one day this month.

"(Food gifts) are very, very in and have grown to become a huge business," said Edward Loeb, publisher of Gourmet Retailer.

Part of the growth stems from the spreading availability of gourmet foods and the earthy marketing twists that many producers attach to their products.

These gourmet newcomers are striking the same nesting chord in busy Americans that home decorating and culinary guru Martha Stewart touched several years ago.

Food gifts also have a warmer, more personal touch than a silk tie, and they don't cost as much. "Food is something everyone has in common," Rashid said.

Sales of gourmet foods climbed to about $29.4 billion in 1993 from $22.0 billion in 1989, according to the National Association for Specialty Food Trade. About 80% of that comes from grocery store sales and the rest from specialty food retailers.