While there are many ways to design the app icon and you can sink an infinite number of hours into design exercices, it's fairly easy to test different colors for an existin app icon design. The impact of colors can be significant and I wanted to know what the bottom line impact is. So I went ahead and checked a set of different icon colors.
Setting up an A/B test for icons in the Google Play store provided the following results.
Three alternative colors tested
Best option would give 20% more downloads
Daily stats rather erratic
Result stabilizes over time
Applying the result
Result: Testing different app icon colors may increase downloads by 20%.