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For comparison, here's before and after the action bar overlay change. It's quite impressive (if I may say so myself) how much better it looks without a heavy block of color hanging above these beautiful high-res promo images. Not to mention that you have just that much more vertical space above the fold for your content.
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Ian Lake
Quite an impressive change! Really like the focus on content while still managing to keep the category styling.
I don't think that immersive mode would necessarily work for something like browsing, searching and buying stuff in the store. It's not like you're spending time on the same canvas like in books, newsstand or even maps. But I'll leave that to our designers.
Ahh I thought you meant immersive mode as in the the nav bar and status bar hide in that comment. I see now.
immersive mode is probable the wrong term here. I should have said:

 "transparent navigation button and status bar overlay" will be quite impressive with that new store you just did !

Not to mention that you will have just that much more vertical space above! :)
Is the 'peoples' menu option only in specific countries?
All this guys requesting "immersive mode" for non-immersive content and useless translucent bars (at least for this kind of content) make me want to give them some #pixelpushing  shots. 
What if the promo image has a white or very light top? (Or would such a promo image never be used/accepted?)
+Jorge Nunes - same as in other Play apps. There's a translucent black protection overlay gradient along the top edge.
translucent bar is solid, but is ruined by the wasted space under the description with duplicate title.
Well the status bar could definitely utilize translucency here. It was meant to make the content more immersive and the backdrop is a perfect example. Correct me if I'm wrong. +Kirill Grouchnikov
+Blendi Krasniqi It looks like it has a ridiculously tall action bar. No thanks.

+Kirill Grouchnikov This looks very good in your screenshots, but I've seen many lighter pics on Play Newsstand on the top which almost hide the buttons up top. Is there a dynamic way to change the color of the buttons based on the background?

+Abhilash Bingi - if you write a bunch of image processing code on the device side. Also, nothing guarantees that the top part of the image is uniformly colored, so you'd need to "protect" each icon separately. Which is why we're using translucent black gradient along the top edge of the hero image.
+Kirill Grouchnikov You're right, for example I just pulled up an article where even changing the icon color based on the picture wouldn't have helped.

Although in this case, even the black translucency doesn't seem to help. Maybe turning down the translucency would've helped?
You can do static translucency gradient values, or you can sample pixels along the top part of the image and make those values dimmer if you detect that the image has too many bright pixels or too much variation in brightness.
You can see it, by the way in the fire explosion part of 24 promo image. On the left it's bright yellow, and on the right it's much dimmer due to that overlay gradient.
I'm no developer, but hopefully the developers (including Google 😉) who use the transparent action bar keep this in mind in the future.
Also, forgot to mention that the search button is now in a fixed position all the way at the right edge of the action bar.
+Kirill Grouchnikov Any idea if the Android Play Store app is already using .webp for all images like the web version does when you use Chrome? If so, do you know which release made the switch?
The tablet UI in the "my apps" activity could really use an update, like showing the phone UI in the right-hand pane instead of just the app name and a checkbox to allow automatic updating...
This is basically from the Play Newsstand app, right?
In the real app, I don't see any overlay. But when you scroll, the cookies background fades in, so vanished icons become visible again. Also, on all screens mine shows the overflow menu at the far right. It looks nice, then scrolling makes it look practical. 
Any chance we can get a quick way to refresh the list of installed apps for updates? Maybe G+ style pull to refresh? 
+Kirill Grouchnikov Is it possible that the translucent action bar does not work for some media outside the US? Can't seem to find it for books and movies in Germany, although music and profile work fine.